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2010-04-08

New Well Sweetens Tupi's Oil Potential

Petrobras finalized the drilling of another well in the Tupi area which confirms the potential of the presalt reservoirs in that area.

The new well, 3-BRSA-795-RJS (3-RJS-666), and informally known as Tupi OW, is located in the area of the Tupi Evaluation Plan, at a depth of 2,131 meters below the water line, nearly 270 km of the coast of Rio de Janeiro, and 12.5 km northeast of discovery well 1-RJS-628 (1-BRSA-369), known as Tupi.

The discovery was proven by means of light oil samplings (approximately 25ยบ API) collected via a cable test from reservoirs located at depths greater than those of previously drilled wells and was reported to the National Petroleum Agency (ANP) today. The result reinforces the estimated potential of 5 to 8 billion barrels of recoverable light oil and natural gas in the Tupi pre-salt area.

The Tupi OW well was drilled by Seadrill's West Taurus semisubmersible drilling rig.

The Consortium, formed by Petrobras (65% - Operator), BG Group (25%), and Galp (10%), to explore block BM-S-11, where Tupi is located, will carry on with the activities and investments called for in the Evaluation Plan which was approved by the ANP and foresees the drilling of other wells until the declaration of commerciality, which is expected to be made in December 2010.

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