This excerpt taken from the PBR 6-K filed Jul 6, 2009.
Tupi Extended Well Test
Rio de Janeiro, July 6, 2009 PETRÓLEO BRASILEIRO S/A - PETROBRAS, announces that it has detected a manufacturing issue with the fixation bolts used in the Wet Christmas Tree (a submarine well flow control device) at well 3-RJS-646, which had been performing the Extended Well Test (EWT) in the Tupi Area, in the Santos Basins Pre-Salt Cluster, operated by Petrobras (65%) in partnership with BG Group (25%) and Galp-Energia (10%).
A submarine inspection did not detect any oil leak or damage to the equipment. Preventively, pursuant to its Safety, Environment and Health policy, the Company decided to immediately replace the Wet Christmas Tree and Adaptor Base.
The well was closed for the operation to be carried out, and the EWT will be continued after the replacement has been completed.
The results obtained via the EWT thus far, have been in line with the expectations of the Company and will be valuable to define the development plan for the area and, particularly, to provide information about the long-term behavior of the reservoirs in production, about fluid movement and drainage during production, and about submarine outflow.
Petrobras emphasizes that the issue in question is unrelated to aspects concerning field production or the technology and does not have impact in the development of the Santos Basins Pre-Salt Cluster.
This document may contain forecasts that merely reflect the expectations of the Companys management. Such terms as anticipate, believe, expect, forecast, intend, plan, project, seek, should, along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein.
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: July 06, 2009
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