Brazil: More oil discovered in Santos Basin

8 August 2008

Sao Paulo, Brazil, 8 Aug – The consortium of Petrobras, the BG group and Galp Energia, operating the BM-S-11 ultra-deepwater bloc in Brazil’s Santos Basin, have announced the discovery of light oil in the pre-salt reservoirs, Petrobras has announced.

The discovery was confirmed with a sample of light oil in reservoirs located at a depth of 5,600 meters and communicated on Thursday to the National Agency for Petroleum, Natural Gas and Biofuels (ANP).

After the conclusion of the well, the contractor group will undertake activities and investments required to assess the scale of the reserves and send an evaluation plan to the ANP.

The contractor group for the bloc comprises Petrobras, the operator with a 65 percent stake in the undertaking. BP Group holds a 25 percent shareholding and Galp Energia the remaining 10 percent stake. (macauhub)