RIO DE JANEIRO (Dow Jones)--Brazilian state-run oil company Petroleo Brasileiro (PBR), or Petrobras, said the results of the fourth well sunk in the Tupi field in the subsalt layer confirmed the potential of 5 to 8 billion barrels of oil and gas.
In a statement late Thursday, Petrobras said the fourth well 3-BRSA-755A-RJS, was located in a water depth of 2,115 meters, 265 kilometers off the coast of Rio de Janeiro and 18 kilometers northeast of the initial Tupi well, which discovered oil in the area, 1-RJS-628 (click here to continue)
Petrobras said the fourth well was drilled in a thin layer, around 250 meters thick, of light oil-bearing reservoirs found at a depth of 4,900 meters. Petrobras said it would now go ahead with well productivity tests over the next few weeks. Petrobras is lead operator in the exploration bloc, BM-S-11, with 65%, and is partnering BG Group (BRGYY, BG.LN) with 25% and Galp with 10%.
By John Kolodziejski, Dow Jones Newswires
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