Brazil Prepares Discovery Assessment Plan on New Oil Field Find

Petrobras off shore rig in Brazil Once again Brazil's government managed oil and gas corporation Petrobras announced the presence of oil traces in pre-salt reservoirs, in ultra deep waters off shore São Paulo in the Santos Basin.

"Preliminary analyses indicate oil gravity is between 25 and 28º API, comparable to that of the other pre-salt oils found in the Santos Basin," said an official release from Petrobras. The well was drilled in block BM-S-8 by a consortium formed by Petrobras (66%, operator), Shell (20%), and Galp Energia (14%) from Portugal.

The pioneer well is located some 250 km (155 miles) off the coast of the state of São Paulo, at 2,139 meters (7,018 feet) from the water line. Drilling was completed on May 18, at a depth of 6,773 meters (22,221 feet) and the discovery was proved via an oil sampling by means of a formation test in reservoirs situated at a depth of nearly 6,000 meters (19,000 feet).

The Consortium is preparing a Discovery Assessment Plan to be sent to the Brazil's ANP (Agência Nacional do Petróleo – National Petroleum Agency), as provided for in the Concession Agreement, giving continuity to the investment activities for block BM-S-8, concludes the release.

The discovery is close to the Tupi deposit, which according to Petrobras has reserves equivalent to 8 billion barrels. When the discovery was announced last November it was described as the largest deposit find in the western hemisphere since the Cantarell deposits in the Gulf of Mexico back in 1976.

Earlier this week the Brazilian press indicated that Petrobras with a market value of US$ 295.6 billion had surpassed Microsoft, which has a market value of US$ 274 billion. Petrobras automatically became the third largest corporation in the Americas behind ExxonMobil Corp. (US$ 489 billion) and General Electric Co. (US$ 320 billion).



  • 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Your email address will not be published.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.


You May Also Like

Hotel Show in Dubai to Bring US$ 1.8 Million to Brazilian Firms

The Hotel Show, a fair in the hotel sector that ended Tuesday, June 6, ...

Brazilian Indians Avoid Amazon Dam, But There Are Other Threats

As the Rio Olympics get underway, Brazil has blocked the construction of a controversial ...

Under Pressure Brazil Replaces Word Refugee with Resident in National ID Card for Immigrants

The Brazilian government has heeded the pleas of the refugee population in Brazil and ...

Bank of Brazil Goes to the Emirates in Search of Investment

The Bank of Brazil (BB) is finally going to open a representation office in ...

Brazilians Now Expected to Live Over 72, 3 Years More than a Decade Ago

Brazilian population's life expectancy has risen from 69.66 years, as of 1998, to 72.86 ...

Brazil Savannah Becomes Magnet for Multinationals Despite Poor Infrastructure

Apart from research, the development of agriculture in the cerrado, the Brazilian savannah, is ...

Close to 30% of Brazilian Chicken Exports Go to Middle East

According to figures disclosed May 25 by the Brazilian Poultry Exporters Association (Abef), the ...

Brazil Goes to Algeria to Reduce Trade Deficit with that Country

On November 20-22, the Brazilian Minister of Development, Industry, and Foreign Trade, Luiz Fernando ...

Country Music Is Crying

The death of João Pacífico is a big loss for the country and for ...

This Brazilian Furniture Maker Uses Only Certified Afforestation Wood

Furniture sector company Taedda, from the southern Brazilian state of Paraná, has traced the ...