Petrobras: Guará Extension Well confirms high productivity in pre-salt

Rio de Janeiro, April 11, 2011 - Petróleo Brasileiro SA - Petrobras announces that it has completed the formation test in the first extension well of Guará confirming the accumulation’s high productivity estimates, located in ultra deep waters, in the Santos Basin pre-salt.

During the test in well 3-SPS-69 (3-BRSA-788), located in block BM-S-9, flow rates of approximately 6 thousand barrels per day of good quality oil (30º API) were confirmed, limited to the capacity of the equipment used. Initial production potential is approximately 50 thousand barrels of oil per day.

Also referred to as Guará Norte, the well is located at a water depth of 2,118 meters, about 305 kilometers off the coast of the State of São Paulo, 15 kilometers northeast of 1-SPS-55 (Guará discovery well).

The formation test of discovery well 1-SPS-55, executed earlier, had already showed similar numbers to the results of Guará Norte well, demonstrating excellent quality of the reservoirs.

At the moment the second extension well, Guará Sul (3-SPS-82A), about 7 kilometers south of the Guará discovery well is being drilled.

The consortium, formed by Petrobras (45% - operator), BG Group (30%) and Repsol  Sinopec Brasil (25%), will give continuity to the activities and investments necessary to assess the deposits discovered in this area, as per the Evaluation Plan approved by the National Petroleum, Natural Gas and Biofuels Agency (ANP).
Source: Petrobras