Repsol discovers natural gas in the Santos Basin
O Estado de S. Paulo - 05/11/2009
Spanish oil company Repsol announced this Monday, 11, the discovery of a natural and condensed gas deposit in shallow waters in the Santos Basin. Preliminary tests in the Panoramix well have shown a daily maximum flow of 378,600 cubic meters of natural gas and 1,570 barrels of condensed gas. It is early to make an estimate of the reserve for the Panoramix well, but the test flows are "satisfactory" and sufficient "to guarantee the commercial viability", as it was stated on Wednesday, in an interview to the Dow Jones agency, by the production and exploration officer of Repsol, Nemesio Fernandez Cuesta. The company plans on drilling an evaluation well this year, before declaring the Panoramix is commercially viable, added the officer. Repsol is the leading operator, with 40% of participation in BM-S-48 block, which contains the discovery, while Petrobras has 35%. Vale and the Australian Woodside Petroleum have 12.5% of participation each in the block.