Brazil’s Petrobras Calls Light Oil Find “Historic Landmark”

Petrobras and partners British Gas and Petrogal from Portugal have found light crude in the ultra-deepwater BM-S-11 block in the Santos basin, announced this week the government-owned Brazilian oil company.

The Brazilian official release describes the preliminary results as "very important" as the drilling is taking place in a "new frontier". However additional investment is needed for the correct assessment of the deposit’s potential reserves.

The oil was found in the 1-BRSA-396A-RJS well Petrobras is drilling with its partners at water depths of 2,140 meters. The well is 250 kilometers south offshore Rio de Janeiro and distant 280 kilometers from the refinery Duque de Caxias, one of Brazil’s largest.

Petrobras said the well’s structure and the 2,000-meter salt mattress the drill had to go through represent a breakthrough in Brazilian oil exploration, "a historic landmark."

Petrobras and its partners in 2000 secured the BM-S-11 exploration concession license from hydrocarbons regulator ANP. Petrobras is the block’s operator with 65%, Britain’s BG Group has 25% and Portugal’s state oil company Petrogal 10%.

The discovery of light oil in the Santos basin is particularly important for Petrobras since it can be mixed with the heavier petroleum extracted from Brazil’s main reserves in the Campos Basin off Rio do Janeiro. Besides light oil has greater commercial value and only represents 10% of Petrobras production.

Mercopress – www.mercopress.com

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Your email address will not be published.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 3-0 Soccer Loss to Argentina in Beijing Drives President Lula Mad

The president of Brazil, Luiz Inácio Lula da Silva criticized sharply the spirit of ...

Brazil’s Emperor Tourist

Brazil’s Emperor, Pedro II, during his time abroad found out how much Brazil needed ...

Brazil and Argentina Searching for Dirty War’s Missing

Brazil’s Minister of the Special Secretariat for Human Rights, Nilmário Miranda, and representatives of ...

Minister Sees 2006 as a Green Year for Brazil

Brazil’s Minister of Agriculture, Roberto Rodrigues, says that with changes in macroeconomic policy and ...

World Unions Search in Brazil for Fair Globalization

At the closing of a  4-day event at the World Social Forum, in Brazil, ...

Brazil: "Respect Our Minors or Else!"

Attempting to shake off Rio’s and the Brazilian Northeast’s reputation as a paradise for ...

Brazil’s Silicon Valley Hosts Seminars on Technology and Innovation

Discussing new and sustainable forms of economic development will be one of the main ...

Brazil Has More Lebanese than Lebanon

Lebanese immigration to Brazil began officially in around 1880, four years after the visit ...

In Brazil, Banks Lead with US$ 10 Billion in Profits in First Half

Total profits of the four main sectors represented by Brazil's Bovespa (São Paulo Stock ...

A Water Project That Would Benefit 15 Million in Brazil

One of the major steps planned by the Brazilian government for 2005 still exists ...