Brazil Finds Oil in New Exploratory Frontier Off Northeast Coast

Petrobras's Gurupá oil ship Brazilian state-controlled oil multinational Petrobras and Norwegian company StatoilHydro announced this Tuesday, November 25, that traces of oil were found in an exploratory well in Lua Nova area, in Jequitinhonha Basin, off the coast of the state of Bahia.

The well is operated by the Brazilian company, which has 60% participation, and by StatoilHydro, which has the remaining 40%.

"The presence of oil was confirmed in arenite areas of the late cretaceous period. Further drilling and analysis should take place to determine whether the discovery has a positive economic potential," according to a press statement. "The well should be drilled to greater depths, according to the exploration program," says the text.

This was the first well drilled in deep waters in Jequitinhonha Basin, at a water depth of 2,300 meters. The block is located 74 kilometers off the coast of Bahia, at a water depth of 2,354 meters, with reservoirs situated at approximately 3,630 meters from the bottom of the sea.

Petrobras also added that the extension of the reserves and their economic viability should be evaluated later in the Assessment Plan (AP) to be proposed to the National Petroleum, Natural Gas and Biofuel Agency (ANP).

The find was notified to the ANP following the standard procedure when oil is found in the country.

This is a region of a new exploratory frontier for Brazil and it has been classified as priority by Petrobras, which even transferred equipment from the pre-salt layers to Jequitinhonha Basin. The block, BM-J-3, where Lua Nova may be found, was granted for exploration in 2002 during the fourth round of tendering promoted by the ANP.

StatoilHydro, the Petrobras partner in the project, is responsible for almost all oil production in Norway. The company is responsible for 1.5 million barrels of oil equivalent a day, but it also operates in countries like Angola, Venezuela, Azerbaijan and Algeria.

Anba

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil Radio Station Set on Fire for 3rd Time. Mayor Main Suspect

Brazilian Nova Coari radio, in Amazonas state, in northern Brazil, was set on fire ...

A Brazilian TV Show Brings Together Youths from All Over the World

"Letters in the Wind," a cultural TV show from Brazil, aims to create an ...

Brazil Zebu Exporters Conquer the Middle East

The sales of zebu cattle should help increase Brazilian exports to the Middle East. ...

Fighting Poverty Protects Democracy, Brazil and Mercosur Agree

Eight foreign ministers and 11 undersecretaries from the Rio Group of Latin American nations ...

Brazilian Detained in US for Making Fake Green Cards Can Get 15 Years and Deportation

A Brazilian man residing in Framingham, Massachusetts,  was indicted yesterday, June 14,  in connection ...

With US Crisis Arabs Save the Day for Brazil’s Granite Exporter

Brazilian granite company Mibasa located in the city of Serra, in the state of ...

More Jobs in Brazil Today than 1 Year Ago

Data from the Brazilian Institute of Geography and Statistics (IBGE) indicate that the employed ...

Brazil’s Per Capital GDP Grows 3.7% to US$ 3,640

Brazil’s Gross Domestic Product (GDP), which is the total of all goods and services ...

In Sí£o Paulo, Brazil, a Campaign Manager Bites the Dust

Marta Suplicy’s (PT) campaign manager, Duda Mendonça was arrested at the end of last ...