Petrobras confirms oil find at Santos basin's Sagitario well

5/21/2014

Petrobras confirms oil find at Santos basin's Sagitario well

RIO DE JANEIRO, Brazil -- Petrobras has completed the formation test on well 1-SPS-98 (1-BRSA-1063-SPS), informally known as Sagitário, located in the ultra-deep waters of the Santos basin pre-salt.

The results obtained have confirmed the discovery stated to the market on February 25, 2013, when the well was still in the drilling phase. The test has revealed carbonate reservoirs with good permeability.

This is the first well to be drilled on block BM-S-50 and it is located 194 km off the Sao Paulo coast, at a water depth of 1,871 m.

The well has reached the total depth of 7,110 m. Starting at a depth of 6,144 m, Petrobras detected 159 m of pre-salt reservoirs bearing good quality oil (32º API).

The consortium operated by Petrobras (60%) in partnership with BG E&P Brasil (20%) and Repsol Sinopec Brasil (20%) will proceed with the activities provided for in the Discovery Evaluation Plan (PAD) approved by Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP).

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