Brazil: Petrobras announces new oil strike in Santos Bay

23 May 2008

Rio de Janeiro, Brazil, 23 May – The consortium made up of Brazilian oil company Petrobras, Shell and Galp Energia for oil exploration in Santos Bay, Brazil Friday announced a new strike.

In a statement, the Brazilain company said that “well 1-SPS-52A (Bem-te-vi) has proven presence of oil.”

The exploration well is located 250 kilometres off the coast of the State of Sao Paulo. The final depth of the well was 6,773 metres.

The consortium is now preparing an assessment plan for the new well, which will be forwarded to oil and natural gas regulator ANPGNB, as outlined in the concession contract.

The consortium is made up of operator Petrobras with a 66-percent stake, whilst Shell has a 20 percent stake and Portugal’s Galp Energia owns the remaining 14 percent. (macauhub)