Discovery of good quality oil in south Santos Basin

November 23, 2011

Discovery of good quality oil in south Santos Basin Petrobras has confirmed the presence of good quality oil in well 4-SPS-91 (4-BRSA-1002-SPS),  in south Santos Basin, in an area known as Tiro and Sidon. The new well, informally known as Patola, is located at a water depth of 299 meters, some 200 km off the coast of São Paulo State and 3.8 km from discovery well 1-SPS-57 (1-BRSA-658-SPS), in the Evaluation Plan area containing wells 1-SPS-56 and 1-SPS-57 (1-BRSA-607 / 1-BRSA-658), former block BM-S-40. Preliminary analyses indicate that this oil is of the same quality as the oil found in   wild cat wells, around 36o API. The discovery confirms the potential for good quality oil in the shallow waters of south Santos Basin. The discovery was confirmed by cable test oil samples taken from the post-salt sandstone. The reservoir is approximately 2,160 meters deep. Petrobras will now go ahead with the activities and investments set forth in the   Evaluation Plan, including drilling other wells in the area, and will proceed with an Extended Well Test (EWT). EWTs are currently in progress on wells 1-SPS-56  and 1-SPS-57.

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