Petrobras discovers more gas in Santos
Valor Econômico - 01/22/2008
Yesterday Petrobras announced the discovery of a large deposit of natural and condensed gas in the pre-salt layer, in the Santos Basin. The company informed that the reservoir, in the BM-S-24 block, is located in ultra-deep waters and is close to the Tupi area, whose recoverable volumes were estimated between 5 and 8 billion barrels of oil and natural gas in 2007. Petrobras said, through its press services, that it is not yet possible to measure the potential volume of the reserves of the new field, whose first well was named Jupiter. The BM-S-24 Block is explored by a consortium formed by Petrobras, which is the operator and holds 80% of participation, and Galp Energia, with the other 20%. The consortium will proceed with the activities and the investments required for the verification of the size of this new deposit, as well as for the verification of the characteristics of the reservoirs of natural and condensed gas. The reserves may only be measured after the conclusion of a discovery evaluation plan, which is being elaborated and will be sent to the Brazilian National Oil Agency (ANP), pursuant to the concession contract, said the company through a press release. Yesterday, the ANP was informed of the discovery, which is located in reservoirs at a depth of nearly 3.1 thousand miles (5.1 thousand meters). The thickness of the rock where the natural gas reservoir is located is more than 393 feet (120 meters). "The area of this structure may have dimensions similar to those of Tupi's", informed Petrobras in the announcement.