Petrobras confirms potential of ultradeep Sergipe Basin

8/13/2013

Petrobras confirms potential of ultradeep Sergipe Basin

RIO DE JANEIRO -- Petrobras has announced the results of the first extension well 3-SES-176D (3-BRSA-1178D-SES), informally known as Farfan 1, located in the BM-SEAL-11 concession area, block SEAL-M-426, in the ultradeep waters of Sergipe Basin.

The results obtained confirm the extent of the previous light oil discovery in the Farfan area, in turbidite sandstones of the Upper Campanian (Calumbi formation).

The well is located 104 km from the city of Aracaju, some 5 km from the discovery well and at a water depth of 2.476 meters. The well confirmed a 51-meter thick reservoir with good permoporosity characteristics.

The well is still in the drilling phase and a formation test will be conducted to assess reservoir productivity.

This accumulation falls within the scope of the Sergipe-Alagoas basin deep water development plan, in accordance with the Petrobras 2013-2017 Business and Management Plan.

The consortium will proceed with the Discovery Evaluation Plan (PAD), which is being approved by Brazil's National Petroleum, Natural Gas and Biofuels Agency (ANP).

Petrobras is the operator of the consortium (60%) in partnership with IBV-BRASIL (40%).

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