Brazil’s Petrobras Finds Oil Again. This Time, Light and Plentiful

Petrobras rig Brazilian state-controlled gas and oil multinational Petrobras announced late last week a new oil discovery in the Campos Basin post-salt layer (carbonate reservoirs), on the northern shore of Rio de Janeiro state.

The discovery was made while drilling the well informally known as Aruanã, in Exploratory Concession BM-C-36 (block C-M-401), which is operated exclusively by Petrobras.

According to a press statement by the oil company, preliminary analyses indicate not only the presence of recoverable volumes of some 280 million barrels of light oil (28º API), but also good productivity.

Block BM-C-36 was acquired in the seventh round of bidding held by the National Petroleum Agency (ANP) on October 17 and 18 2005.

The discovery well is located nearly 120 km off the coast of Rio de Janeiro and at a water depth of 976 meters.

The discovery was proved based on assessments (lined well formation test) in reservoirs located at depths ranging from 2,993 to 3,123 meters. It will now be the object of an Assessment Plan to be submitted to the ANP.

According to information disclosed by the company, between 2007 and 2009, in geologically similar reservoirs to this one, also in Campos Basin, Petrobras drilled wells Jurará and Muçuã, at water depths of 1,200m, in Marlim Sul Field.

These wells allowed for joint estimations of 350 million recoverable barrels of oil (27º API). The development of these projects has been foreseen in the 2009-2013 Strategic Plan, which forecasts investment of US$ 174.4 billion. Early production is being deployed at platform P-51, which already produces oil in the area, and, in 2011, at platform P-56, which is currently under construction.

Petrobras recalls that the world water-depth record for production in the type of reservoir announced today (carbonates) was set at the Marlim Leste field in February 2009, with the drilling of well 7-MLL-54HP, which reached a water depth of 1,413 m.

ABr

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