New discovery confirms light oil in Carioca area, offshore Brazil

abarrelfullabarrelfull wrote on 26 Jan 2011 07:29
Tags: bg-group brazil offshore petrobras upstream

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BG Group has today confirmed a new discovery of light oil in Block BM-S-9 in the Santos Basin, offshore Brazil.

The discovery well 3-BRSA-861-SPS, informally known as Carioca North-East, is located in a water depth of 2 151 metres, approximately 275 kilometres off the coast of São Paulo state and nine kilometres north-east of the original Carioca discovery well*.

Initial analysis of the discovery has confirmed the presence of a light oil accumulation (approximately 26° API) in a 200-metre reservoir section. Drilling on Carioca North-East has been concluded and drill stem tests will be conducted in due course.

BG Group has a 30% interest in Block BM-S-9 which is comprised of two appraisal areas – Guará** and Carioca (Petrobras 45%, operator and Repsol 25%).

About BG Group

BG Group plc (LSE: BG.L) is a world leader in natural gas, with a strategy focused on connecting competitively priced resources to specific, high-value markets. Active in more than 25 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas (LNG), transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with a proven track record in finding and commercialising reserves.
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