New Brazilian pre-salt oil discovery

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The FINANCIAL — Statoil together with operator Repsol Sinopec and partner Petrobras has confirmed a high-impact discovery in the Pão de Açúcar prospect offshore Brazil.

 

According to Statoil, the partnership announced today that it has made a high impact discovery in the Pão de Açúcar prospect located in the BM-C-33 block in the Campos Basin.  The well is located some 195 kilometres offshore Rio de Janeiro State in 2,800 metres of water.

 

The Pão de Açúcar well encountered two pre-salt accumulations comprising a hydrocarbon column of 480 metres with a total pay of around 350 metres. A test performed in a partial section of the pay zone flowed 5,000 barrels per day of light oil and 28.5 million cubic feet per day of gas. This was a choked Drill Stem Test with very limited drawdown.

The Pão de Açúcar discovery is the third find made in the BM-C-33 block after Seat and Gávea and confirms the area’s high potential.

 

Repsol Sinopec is operator of the exploration consortium with a 35% stake. Partners Statoil and Petrobras hold respective 35% and 30% shares.

Statoil is also the operator of the Peregrino field in Brazil, which came on stream in April 2011.

The Pão discovery is the sixth high impact discovery made by Statoil in the last 12 months. The other discoveries are Skrugard and Havis in the Barents Sea, Johan Sverdrup in the North Sea, Peregrino South in Brazil and Zafarani in Tanzania.

 

 

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