OGX Petróleo e Gás Participações S.A., the Brazilian oil and gas company responsible for the largest private sector exploratory campaign in Brazil, yesterday announced that well OGX74 , the first extension well of the Natal accumulation (1OGX11DSPS), adjacent to the wildcat well, in block BMS59, demonstrated the continuity of the sandstone reservoirs of the Santonian age.
In the drillstem test for fluid identification conducted in the well, the Company has verified the presence of light oil of 38° API, while in well OGX11D, the Company had previously confirmed the presence of gas and condensate.
“The discovery of light oil in the sandstone reservoirs of the Santonian age corroborates our initial expectations regarding the significant potential of oil accumulations in our Santos Basin blocks,” commented Paulo Mendonça, General Executive and Exploration Officer of OGX.
OGX74 was drilled to a depth of 4,439 meters and, together with wildcat wells, OGX11D and OGX47, will be part of a Discovery Evaluation Plan which will appraise the sandstones of the Santonian age accumulations in block BMS59.
The OGX74 well, an extension of the Natal accumulation, is located 115 km off the coast of São Paulo, in water depths of approximately 196 meters and was drilled approximately 4 km away from well OGX11D.
[mappress] Source: OGX, April 13, 2012