New Discovery in the Rights Transfer Area

Source: www.gulfoilandgas.com 8/21/2012, Location: South America

Petrobras has discovered good quality oil in the fourth well drilled in the Rights Transfer area in the Santos Basin pre-salt cluster. The well, 3-BRSA-1053-RJS (3-RJS-699), known as Franco SW, is located at a water depth of 2,024 m, some 210 km off the coast of the city of Rio de Janeiro and 17 km south of discovery well 2-ANP-1-RJS (Franco).

The discovery was confirmed by good quality cable test oil samples (28? API). They were collected in carbonate rock reservoirs, with rock thicknesses similar to those found in the discovery well. The discovery also confirms the extension of the oil reservoirs in the southern Franco area. The oil column verified so far is 295 m.

The well is still being drilled and has reached 5,656 m. Drilling is to continue as far as the stratigraphic level specified in the Rights Transfer Agreement, which is approximately 6,175 m.

On completion of this stage, Petrobras will proceed with the activities and investments detailed in the Rights Transfer Agreement Minimum Exploratory Program, which also includes carrying out 3D seismic surveys of the area.


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