Petrobras Hits Campos Oil

Petrobras has announced the discovery of new oil accumulations in concession BM-C-35 (exploratory block C-M-535), located in the Campos Basin post-salt layer.

The discovery was made while drilling well 1-BRSA-1289-RJS (ANP nomenclature) / 1-RJS-737 (Petrobras nomenclature), informally known as Basilisco.

The well is situated some 143km from the city of Armação dos Búzios, on the coast of Rio de Janeiro state, at a water depth of 2,214 meters. The accumulations consist of heavy oil and can be found in two different reservoir depths, at 3,190 meters and at 3,521 meters.

The consortium of concession BM-C-35, which includes Petrobras (operator with 65%) in partnership with BP (35%), will proceed with the necessary activities to assess the extension of the discoveries, as well as the concession’s exploratory potential.

Furthermore, Petrobras said that its Board of Directors will meet on Friday, Feb. 6, 2015, to elect the new Board on account of the resignation of the Company’s CEO and of five Officers.