Oil discovered in Campos basin

Petrobras has struck oil in the BC-60 block in the northern area of the Campos basin, off the southern coast of Espirito Santo and 10 km from the Jubarte field.
The wildcat 1-ESS-116 well was drilled 76 km offshore in 1,478 m of water, encountering a 60-m saturated 19° API oil-bearing formation.
Geological studies indicate potential reserves of 300 MMboe, which with those in the Jubarte filed, total 900 MMboe of oil reserves discovered in the BC-60 block.
Jubarte field is producing 17,000 b/d of 17° API oil from a single well on the basis of a long duration production test, which will provide the basis for an eventual permanent production project in the field. The well has a daily output capacity of 25,000 bbl, although the facility is operating at a reduced level due to limited processing capability at the production unit.
Data obtained from testing indicates that daily output levels from each well near 1-ESS-116 are 20,000 bbl.
Another well is being drilled in the 1-ESS-116 area to seek additional information of the commercial viability.
12/6/02