Petrobras Discovers More Light Oil in the Campos Basin

Petrobras announces a new oil discovery the Campos Basin post-salt layer (carbonate reservoirs), with the drilling of well 1-BRSA-713-RJS (1-RJS-661), informally known as Aruana, in Exploratory Concession BM-C-36 (block C-M-401), which is operated exclusively by Petrobras. Preliminary analyses indicate not only the presence of recoverable volumes of some 280 million barrels of light oil (28 degree API), but also good productivity. Block BM-C-36 was acquired in the seventh round of bidding held by the National Petroleum Agency (ANP) on October 17 and 18 2005.

The discovery well is located nearly 120 km off the coast of Rio de Janeiro and at a water depth of 976 meters. The discovery was proved based on assessments (lined well formation test) in reservoirs located at depths ranging from 2,993 to 3,123 meters. The discovery will then be the object of an Assessment Plan to be submitted to the ANP.

Marlim Sul
Also in the Campos Basin, in the Marlim Sul Field, in reservoirs geologically similar to this discovery, Petrobras drilled wells 6-MLS-122-RJS (Jurara) and 6-MLS-146 D-RJS (Muçua), in 2007 and 2009, respectively, at water depths of 1,200 m. These wells allowed for joint estimations of 350 million recoverable barrels of 27 degree API oil. The development of these project has been foreseen in the 2009-2013 Strategic Plan, and early production is being deployed at platform P-51, which already produces oil in the area, and, in 2011, at platform P-56, which is currently under construction.

Marlim Leste
Also regarding in this type of reservoir, it is important to keep in mind that knowledge has already been amassed in the exploration of the Marlim Leste field, by means of well 6-MLL-14-RJS, informally known as Jabuti (2005). In waters at a depth of 1300 meters and at 120 km off the coast, this well identified a reservoir with a recoverable volume of some 345 million barrels of recoverable 28 degree API. The first oil of this reservoir was produced in 2008 with the FPSO Seillean platform.

The joint production of these areas is expected to make short- and medium-term contributions to the Company’s production curve, as production and drainage structures are already installed there. The Jabuti and Jurara discoveries have already been included in Petrobras’ Proved Reserves for 2008.

Records
The world water-depth record for production in the type of reservoir announced (carbonates) was set at the Marlim Leste field in February 2009, with the drilling of well 7-MLL-54HP, which reached a depth of (1,413 m). Meanwhile, the oil production record per well, 43,588 barrels per day, was set in May 2009.

These outstanding results Petrobras has been achieving reflect the efforts, technical knowledge, and modern technology the Company uses in the search for new discoveries, both in production concession and in pioneer areas.