Petrobras discovers 396-m oil column in Franco area

11/22/2013

Petrobras discovers 396-m oil column in Franco area

RIO DE JANEIRO -- Petrobras said that it has completed drilling one more well in Santos Basin pre-salt Franco area, one of the areas outlined in the Transfer of Rights Agreement.

Referred to as 3-BRSA-1184-RJS (3-RJS-723), informally known as Franco Leste, the well is situated at a water depth of 2,011 m, some 200 km off the city of Rio de Janeiro and 7.5 km southeast of discovery well 2-ANP-1-RJS (Franco).

The well has confirmed the discovery of good quality oil (28º API) in excellent carbonate reservoirs located below the salt layer starting at a depth of 5,398 m. The total depth of 5,900 m was reached after a 396 m column of oil was confirmed.

Samples were collected in reservoirs of thickness similar to the discovery well, confirming the extension of these oil reservoirs for the eastern portion of Franco block.

The drilling of this well is part of an additional program to Franco’s mandatory exploratory program which is designed to enhance the volume delimitation.

Through the Transfer of Rights Agreement, Petrobras acquired the right to produce up to 3.058 Bboe in Franco. The exploratory phase is underway and is expected to be concluded by September 2014.

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