Petrobras has light oil discovery south of Santos basin

Petrobras confirms the presence of light oil in well 1-BRSA-870-SPS (1-SPS-76), located to the south of Santos basin, in sandstone reservoirs similar to those found in the accumulations of Tiro and Sidon.
Nov. 16, 2010

Offshore staff

RIO DE JANEIRO, Brazil -- Petrobras confirms the presence of light oil in well 1-BRSA-870-SPS (1-SPS-76), located to the south of Santos basin, in sandstone reservoirs similar to those found in the accumulations of Tiro and Sidon. The discovery is located around 15 south km of the Tiro and Sidon area.

The well is situated in block S-M-1352 of the BM-S-41 Concession, where Petrobras holds 100% interest. It is under ANP analysis for the transfer of a 20% interest of the concession to Karoon Petroleum and Gas.
The well is located about 280 km off the coast of the State of São Paulo, in a water depth of 400 m. The reservoirs were found at a depth of 2,200 m.

The well is continuing to drill toward deeper objectives, still in the post-salt section.

11/16/2010

This discovery confirms the success of the exploratory strategy in the search for the formation of a new production hub in the southeastern part of Santos Basin which may be integrated by a series of already discovered fields, such as Caravela, Cavalo Marinho, Coral and Tiro-Sidon, as well as others to be discovered or in evaluation process, such as that of well 1-BRSA-870-SPS in the Marujá prospect..

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