Petrobras Confirms Potential of Farfan Area in Sergipe Basin

Source: www.gulfoilandgas.com 8/9/2013, Location: South America

Petrobras, announces the results of the first extension well 3-SES-176D (3-BRSA-1178D-SES), informally known as Farfan 1, located in the BM-SEAL-11 concession area, block SEAL-M-426, in ultradeep waters of Sergipe Basin.

The results obtained confirm the extent of the previous light oil discovery in the Farfan area, in turbidite sandstones of the upper campanian (calumbi formation) according to the October 11, 2012 market announcement.

The well is located 104 km from the city of Aracaju, some 5 km from the discovery well and at a water depth of 2.476 meters. The well confirmed a 51-meter thick reservoir, featuring good permoporosity characteristics.

The well is still being drilling and subsequently a formation test will be conducted to assess reservoir productivity. This accumulation is part of the development plan for deep water frontiers in the Sergipe-Alagoas basin, in accordance with Petrobras 2013-2017 Business and Management Plan.

The consortium will proceed with the Discovery Evaluation Plan (PAD), which is being approved by Brazilís National Petroleum, Natural Gas and Biofuels Agency (ANP). Petrobras is the operator of the consortium (60%) in partnership with IBV-BRASIL (40%).

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