Brazil: Petrobras’ Guara Extension Well Successful

Petrobras announces that it has completed the formation test for the first extension well of Guará, confirming the accumulation’s high productivity estimates, located in ultra deep waters, in the Santos Basin pre-salt area.

During the test on well 3-SPS-69 (3-BRSA-788), located at block BM-S-9, flow rates of about 6 thousand barrels per day of good quality oil (30º API) were confirmed, limited to the capacity of the equipment used. Initial production potential is approximately 50 thousand barrels of oil per day.

Also referred to as Guará Norte, the well is located at 2,118 meters water depth , about 305 kilometers off the coast of the State of São Paulo, and 15 kilometers northeast of 1-SPS-55 (Guará discovery well).

The formation test of discovery well 1-SPS-55, executed earlier, had already showed similar numbers to the results of Guará Norte well, demonstrating excellent quality of the reservoirs.

The second extension well, Guará Sul (3-SPS-82A), about 7 kilometers south from the Guará discovery well is currently being drilled.

The consortium, formed by Petrobras (45% – operator), BG Group (30%) and Repsol Sinopec Brasil (25%), will carry on with the activities and investments required to assess the deposits discovered in this area, as per the Evaluation Plan approved by the National Petroleum, Natural Gas and Biofuels Agency (ANP).

[mappress]

Source: Petrobras, April 12, 2011;