This excerpt taken from the PBR 6-K filed Aug 21, 2009.
Oil Discovery in the Campos Basin
Rio de Janeiro, August 20, 2009 PETRÓLEO BRASILEIRO S/A - PETROBRAS, announces a new oil discovery in carbonate reservoirs in the Campos Basin post-salt layer.
The discovery was made by drilling well 1-BRSA-713-RJS (1-RJS-661), informally known as Aruanã, in Exploratory Concession BM-C-36 (block C-M-401), which is operated exclusively by Petrobras. Preliminary analyses indicate not only the estimation of recoverable volumes around 280 million barrels of light oil (28o API), but also good productivity. Block BM-C-36 was acquired in the seventh round of bidding held by the National Petroleum Agency (ANP) on October 17 and 18 2005.
The discovery well is located nearly 120 km off the coast of Rio de Janeiro (see the attached figure below), at a water depth of 976.5 meters. The discovery was proved though a lined well formation test, in reservoirs located at depths ranging from 2,993 to 3,123 meters and will be the object of Discovery Assessment Plan to be submitted to the ANP.
Geologically similar reservoirs had already been identified in the Santos Basin, by drilling wells 6-MLS-122-RJS (Jurará) and 6-MLS-146 D-RJS (Muçuã), in the Marlin Sul field, in 2007 and 2009, respectively. These wells were drilled at water depths of 1,200 m and the volume are estimated at 350 million barrels of recoverable 27º API oil. The development of these projects is considered in the 2009-2013 Strategic Plan and the start- up of the production in Juara occurred this year trough the platform P-51 and the start-up of the Muçuã is expected to occur in 2001 through platform P-56.
Added to these news, is the knowledge that Petrobras has been acquired exploring carbonate reservoirs at Marlim Leste field, via well 6-MLL-14-RJS, informally known as Jabuti (2005), which is located at a water depth of 1300 meters and at 120 km off the coast with an estimate recoverable volume of 345 million barrels (28o API). The production of Jabuti has started in 2008 trough the FPSO Seillean.
These accumulations are located in areas where production and drainage infra structures are already installed, and will contribute in the short- and medium-terms to Petrobras production curve, highlighting that Jabuti and Jurará volumes has already been considered for the 2008 proved reserves calculation.
At Marlim Lest, the world water-depth record for production in carbonates (1,413 m) was set at in February 2009, with the drilling of well 7-MLL-54HP, while the oil production record per well, 43,588 barrels per day, was set in May 2009.
These discoveries resulted from the efforts, technical knowledge, and modern technology that Petrobras uses, both in production concession and in pioneer areas.
Este documento pode conter previsões que refletem apenas expectativas dos administradores da Companhia. Os termos antecipa, acredita, espera, prevê, pretende, planeja, projeta, objetiva, deverá, bem como outros termos similares, visam a identificar tais previsões, as quais, evidentemente, envolvem riscos ou incertezas previstos ou não pela Companhia. Portanto, os resultados futuros das operações da Companhia podem diferir das atuais expectativas, e o leitor não deve se basear exclusivamente nas informações aqui contidas.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: August 20, 2009
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