Brazil: Petrobras Discovers Light Oil in Espirito Santo Basin

Petrobras announces the discovery of light oil in sandstones reservoirs of the post-salt section of Espírito Santo Basin.

This new discovery was the result of the drilling of well 1-BRSA-882-ESS, informally referred to as Indra, and is located in the BM-ES-32 (Block ES-M-594) Exploratory Concession. Petrobras, which holds a 60% stake in this Concession, is the Operator of the Consortium composed of Statoil, holder of the remaining 40%.

This new oil and gas accumulation is located 140 kilometers from the city of Vitória, and the reservoirs containing oil have a total payload thickness around 70 meters, and is approximately 3,850 meters deep, at a water depth of approximately 2,100 meters, therefore, it is the deepest oil discovery of Espírito Santo Basin.

Preliminary estimates suggest that the oil accumulation ranges from 25º to 30º API, with quality similar to the oil discovered in Golfinho Field, which is approximately 70 kilometers away. Additional studies will be necessary to evaluate volumes, extent and productivity of these reservoirs.

[mappress]

Source:Petrobras, December 17, 2010;