Petrobras finds light oil in new sub-salt well

Tue Apr 14, 2009 11:50pm BST
 
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RIO DE JANEIRO, April 14 (Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA)(PBR.N) has discovered light oil in a new well in the BM-S-9 block in the Santos Basin, the company told Brazil's National Petroleum Agency on Tuesday.

The well, located at a depth of 2,140 meters, is in the Carioca field about 340 km off the Sao Paulo coast in a sub-salt block being jointly explored by Petrobras, Britain's BP Group (BP.L) and Spain's Repsol (REP.MC).

The discovery was proved by an oil sampling made via a cable test in reservoirs located at a depth of 4,900 meters, Petrobras said.

The company said this month that gas and light oil reservoirs found in January in the Santos Basin, containing an estimated 550 million barrels of oil equivalent, are commercially viable. (Reporting by Stuart Grudgings; Editing by Christian Wiessner)

 

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