Petrobras Moita Bonita extension proves oil presence

Brazil’s oil company Petrobras announces that the third well drilled in the Sergipe-Alagoas Basin’s Moita Bonita area, in Concession BM-SEAL-10, has proved the extension of the gas and light oil discovery made in that area, as released to the market on August 24, 2012.

This well, informally known as Moita Bonita 3 (3-BRSA-1244-SES / 3-SES-182), is the second extension well drilled in the area. It is 82 km off the coast of Sergipe, Brazil, approximately 5 km from discovery well Moita Bonita 1-BRSA-1088-SES (1-SES-168) and at a water depth of 2,790 meters.

Drilling confirmed the existence of 40-meter thick reservoirs with good permeability and porosity conditions, consistent with the project’s expectations. After completing drilling a formation test was conducted, which proved the presence of 41º API oil and good reservoir productivity.

The Moita Bonita accumulation is part of the Sergipe-Alagoas Basin deep-water development program.

Petrobras, the operator of BM-SEAL-10 with a 100% interest, will proceed with the activities planned for this area