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New data Confirms the Continuity of Petrobras' Carcara Discovery

Source: www.gulfoilandgas.com 6/1/2012, Location: South America

Petrobras has announced that new data obtained from drilling of well 4-SPS-86B (4-BRSA-971-SPS), which is testing the prospect known as Carcara, reinforces the importance of the good-quality oil discovery in block BM-S-8, located in ultradeep waters in the Santos Basin pre-salt region.

It has been proven, so far, that there is a continuous oil column of 171 meters in reservoirs of excellent quality. New oil samples of approx. 32 degree API were collected from reservoirs located at depths of up to 5,910 meters, also confirming the continuity of the discovery that was reported to the market on March 20 by the Consortium.

The well is located 232 km off the coast of Sao Paulo state, at a water depth of 2,027 meters. The well is currently being drilled, at a depth of 5,926 meters and still within the oil zone, to determine the lower limit of the reservoirs and the total thickness of the zones of interest.

The Consortium will continue with the activities and investments needed to assess the area in accordance with the Assessment Plan approved by the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP).

Petrobras is the operator of the Consortium (66%), in partnership with Petrogal Brasil (14%), Barra Energia do Brasil Petroleo e Gas Ltda. (10%) and Queiroz Galvao Exploraçao e Produçao S.A. (10%).

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