## Statoil, Repsol Sinopec and Petrobras confirm high-impact deepwater discovery offshore Brazil

##### 27 February 2012

Statoil, operator Repsol Sinopec, and Petrobras have confirmed a high-impact discovery in the Pão de Açúcar prospect offshore Brazil. Statoil defines a high-impact well as offering a total of more than 250 million barrels of oil equivalent (boe), or 100 million boe net to Statoil.

 Pão de Açúcar. Click to enlarge.

The Pão de Açúcar prospect is located in the BM-C-33 block in the Campos Basin. The well, which is being drilled by the Stena DrillMAX drillship, is located some 195 kilometers (121 miles) offshore Rio de Janeiro State in 2,800 meters (9,186 feet) of water.

The Pão de Açúcar well encountered two pre-salt accumulations comprising a hydrocarbon column of 480 meters with a total pay of around 350 meters. A test performed in a partial section of the pay zone flowed 5,000 barrels per day of light oil and 28.5 million cubic feet per day of gas. This was a choked Drill Stem Test (DST) with very limited drawdown.

The Pão de Açúcar discovery is the third find made in the BM-C-33 block after Seat and Gávea and confirms the area’s high potential, Statoil said.

The development potential of the Pão and Gávea discoveries will now be evaluated by the partnership. This discovery increases our understanding of the pre-salt potential in the Campos Basin and improves our confidence in the recently acquired acreage position in the pre-salt Kwanza basin of Angola.

—Tim Dodson, vice president for Exploration

 Reconstructed map of the South Atlantic. Source: Statoil. Click to enlarge.

Statoil notes that there are analogues between the Campos basin and the Kwanza basin offshore Africa; a reconstructed map of the South Atlantic illustrates the closeness between the two basins 112 million years ago when the petroleum systems were established (and South America was adjacent to Africa).

Repsol Sinopec is operator of the exploration consortium with a 35% stake. Partners Statoil and Petrobras hold respective 35% and 30% shares.

Statoil is also the operator of the Peregrino field in Brazil, which came on stream in April 2011.

Pay no mind to Chinese offshore drilling...America is an evil country according to Obama, we must buy $40,000 Chevy Volts and pay$5 per gallon of gas.

OK we get it already: You're against Obama... But I ask you again: Who are you for? Which one of the idiots campaigning for the Republican ticket do you favor?

Come on, give us a name so we can get a laugh out of your rants.

@ejj

US domestic oil production

If you examine the line, you see that since Obama took office, domestic oil production has increased for the first time in 25 years. What exactly are you complaining about? Or do you watch too much Fox News? ;)

ejj,

I emailed Mike. I asked you nicely.