Petrobras Strikes Oil at Bigua Well, Santos Basin, Offshore Brazil

Petrobras , the largest company headquartered in the Southern Hemisphere by market value, announces the discovery of good quality oil during drilling of well 4-BRSA-946C-SPS, informally known as Biguá.

The well is located in block BM-S-8, in ultra deep waters of the Santos Basin pre-salt area, 270km away from the coast of the state of São Paulo.

The discovery was confirmed by oil samples with 25º API, collected by means of cable test in the pre-salt reservoirs, at a depth of approximately 5,380m. New studies will be carried out based on the data acquired at the well, allowing for a better assessment of the accumulation’s size.

The well is located in the Discovery Assessment Plan area of 1-BRSA-532A-SPS (Bem-te-vi), at a water depth of 2,180m and 21km from the discovery well.

Drilling of the area’s third well, known as Carcará, will begin these next few days. Additionally, the consortium will continue the activities and investments required to assess the area based on the Assessment Plan approved by ANP (the Brazilian National Agency of Petroleum, Natural Gas and Biofuels), and is expected to be completed on December 2012.

Petrobras is the consortium operator (66%) in partnership with Shell Brasil Petroleo Ltda (20%) and Petrogal Brasil (14%). Shell’s stake was acquired by Barra Energia do Brasil Petróleo e Gás Ltda (10%) and Queiroz Galvão Exploração e Produção S.A. (10%); the negotiation is subject to ANP’s final approval.

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Offshore Energy Today Staff , November 30, 2011; Image: Petrobras