INPEX Makes Further Discovery of Oil Accumulations in Brazil

Source: www.gulfoilandgas.com 12/16/2015, Location: South America

Inpex Corporation has discovered oilbearing sandstone layers amounting to a cumulative thickness of approximately 70m at a depth of about 4,850m through appraisal drilling in the BM-ES-23 concession in the Espirito Santo Basin offshore Brazil.

The drilling is part of the appraisal work being conducted since 2013 to further explore new oil and natural gas accumulations in the concession. The discovery follows earlier finds announced on October 8, 2014 and January 7, 2015.

The concession lies 115 km off the coast of the State of Espirito Santo in southeastern Brazil, where water depth ranges from 1,800m to 2,000m. Through INPEX Petroleo Santos Ltda., a subsidiary, INPEX owns a 15% participating interest in the concession, where INPEX has engaged in exploration activities alongside partners Petrobras (operator) and PTTEP, which own 65% and 20% participating interests, respectively.

INPEX and its partners will analyze and evaluate the data retrieved from the appraisal well, in addition to the data from the earlier finds, and proceed with the appraisal work.

For more information about related Opportunities and Key Players visit Brazil Oil and Gas Projects


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