Petrobras confirms Jupiter gas and condensate discovery

10/10/2012

Petrobras confirms Jupiter gas and condensate discovery

RIO DE JANEIRO, BRAZIL -- Petrobras announced preliminary drilling results of well 3-BRSA-967A-RJS (3-RJS-683A), known as Jupiter Nordeste, located 7.5 km from the Jupiter area's discovery well (1-BRSA-559A), in the Santos basin, confirming the presence of natural gas and condensate, as well as the presence of a continuous reservoir between the two wells.

The new well, which is still being drilled, has reached 5,438 m. It is located in ultra-deep waters of block BM-S-24, at a water depth of 2,161 m, and 275 km off the coast of Rio de Janeiro.

So far, well 3-BRSA-967A-RJS has detected an oil column of 176 m in rocks of excellent permeability and porosity.

The consortium that holds the concession of block BM-S-24 will proceed with the activities and investments necessary to assess the area, as set forth in the Assessment Plan approved by the ANP (National Petroleum Agency). Drilling of the well will continue targeting deeper objectives.

Petrobras is the operator of the consortium (80%) in partnership with Petrogal Brasil (20%).

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