New Well in Libra Confirms Extension of Oil Discovery

Source: www.gulfoilandgas.com 6/15/2016, Location: South America

Petrobras hereby announces that the Libra Consortium has concluded the drilling and appraisal of the seventh well in the block, located in the pre-salt layer of the Santos Basin.

The new well has discovered Libra’s largest net pay to date, with 410 meters of thickness. This column overcomes the latest discovery (301 meters), announced in March of this year.

This well, located in the northeast section of the block 180 km off the coast of Rio de Janeiro, has confirmed the discovery of good-quality oil (27 degree API) in highly productive reservoirs.

The well, denominated 3-BRSA-1339A-RJS (3-RJS-742A) and informally known as NW2, is 10.3 km to the south of the 2-ANP-2A-RJS discovery well. This drilling is part of the firm commitment in the 2-ANP-2A-RJS Discovery Appraisal Plan (PAD) approved by the ANP on February 26, 2016.

Up to now, seven wells have been concluded in the Libra block (six by the Consortium) and the eighth (3-RJS-743A), also in the northeast of the block, is currently being drilled.

The Libra Consortium comprises Petrobras (the operator, with 40%), Shell (20%), Total (20%), CNPC (10%) and CNOOC (10%) and the production sharing agreement is managed by Pré-Sal Petroleo S.A. (PPSA).

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