Petrobras Completes Formation Tests At 4-RJS-647 Well In Tupi Area, Brazil

Published: 18-Nov-2009

Petroleo Brasileiro S.A. (Petrobras) announced that the two formation tests for well 4-RJS-647 (4-BRSA-711-RJS) have been completed and proved the high productivity of the pre-salt carbonate reservoirs. The well is located in the Tupi assessment area, in ultra-deep Santos basin waters and is informally known as Iracema.

In each of the two tests that were carried out, the flow that was measured was 5,500 barrels per day of light oil (about 32o API), limited to the capacity of the equipment used in the testing phase. The well's initial production is being estimated at up to 50,000 barrels of oil per day, proving the Tupi area's high light oil production capacity.

The well that was tested, the drilling of which was completed in September 2009, is located in an assessment area in block BM-S-11, at a depth of 2,210 meters from the waterline, nearly 250 kilometers off the coast of the State of Rio de Janeiro and 33 kilometers Northeast of well 1-RJS-628A (1-BRSA-369A), known as Tupi.

The consortium, formed by Petrobras (65% - operator), BG Group plc (25%), and Galp Energia SGPS SA (10%), will continue with the activities and investments that are required to assess the fields in Tupi, with the drilling of new wells until the Declaration of Commerciality, expected for December 2010.

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