Petrobrás announces new oil discovery(yet another one!)

Petrobras announced the discovery of oil of good quality in the third well drilled in the area of ​​Cessão Onerosa(Transfer of Rights, Oil-For-Stock Swap), located in an area called South of Guara, in the Santos(SP) pre-salt Basin.

According to the contract, Petrobras has the rights to produce up to 319 million barrels of oil equivalent in this area. This well, called 1-BRSA-1045-SPS (1-SPS-96), is located in the southern portion of Camp Sapinhoá in a water depth of 2202 meters, and a distance of 320 km of the coast of São Paulo.

The discovery was proved by means of samples of good quality oil (about 27 ° API), by tests by cable, taken in carbonate reservoirs below the salt layer. According to company statement, now the well is being drilled to a depth of 5058 meters and to determine the lower limit of the reservoirs and to identify the total thickness of the zones of interest.

Upon completion of drilling, a formation test is scheduled to assess the productivity of the oil reservoirs, according to the activities and investments foreseen in the Mandatory Exploration Program of the Oil-For-Stock Swap (Programa Exploratório Obrigatório (PEO) do Contrato de Cessão Onerosa.).

Do you want to know what Oil-For-Stock is and other exploration programs proposed by the Brazilian government for the pre-salt? Check here.

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Joe Cloud
Dutch, American, Brazilian... lived there for 5 years and owns property in Brazil. Out of the country for a few years now and would like to go back, however current circumstances tell me it's not the right time.