Rio De Janeiro: Petrobras proved the presence of oil in well 1-BRSA-658-SPS (1-SPS-57) south of the Santos Basin in sandy reservoirs above the salt layer.
The discovery confirms the good light oil potential in the shallow water portion of the basin. The well is located in Block S-M-1289 of concession BM-S-40, in which Petrobras holds 100 percent interest. Diamond Offshore semi Ocean Yorktown drilled the well in a water depth of 900 feet (274 m) some 124 miles (200 km) off the coast of the state of São Paulo. The block is 5.8 miles (9.3 km) away from the discovery that was made by well 1-SPS-56 at the Tiro prospect, which was announced last May. The reservoirs that were discovered are of the sandy type and are located at a depth of approximately 6,759 feet (2,060 m), similar to those found recently by well 1-BRSA-607-SPS (1-SPS-56). Reservoir productivity will be assessed immediately by means of a lined well formation test. The dimensions of the discoveries made by these wells will only be defined after the assessment plan, which will be submitted to Brazil's National Petroleum Agency, as provided for in the BM-S-40 concession agreement.
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