Petrobras announces drilling of first well in Transfer of Rights area completed at Franco

Thursday, Feb 09, 2012

Petrobras reports that drilling of the first well following the execution of the Transfer of Rights Agreement has been completed. Results confirm the extension of oil reservoirs northwest of the discovery well at Franco area, in the pre-salt area of Santos Basin.

The well referred to as 3-BRSA-944A-RJS (3-RJS-688A) and informally known as Franco NW, is located at a water depth of 1,860 meters, 188 km off the city of Rio de Janeiro and 7.7 km northwest of discovery well 2-ANP-1-RJS (Franco).

The discovery was confirmed through good quality oil samples (28º API), obtained from cable tests collected from 5,460 meters.

The well confirmed the same oil/water contact of the discovery well, and drilled through excellent quality carbonate rock reservoirs and thickness similar to those found in well 2-ANP-1-RJS (Franco).

Next, a formation test will be conducted to assess the well’s productivity and Petrobras will proceed with the activities and investments included in the Minimum Exploratory Program (PEO) of the Transfer of Rights Agreement, which also includes the acquisition of 3D seismic data of the area.

Source: Petrobras

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