Petrobras hits oil at two onshore blocks

Brazil

RIO DE JANEIRO, April 17, 2015 – Light, 47-degree API oil and gas reservoirs were confirmed at a 2,040-metre well at block AM-T-84 in the Amazon Basin. The hydrocarbons deposits are located from 1,350-1,900 metres in arenaceous reservoirs.

Petrobras serves as the operator of the block with a 60-percent stake and Petrogal Brasil, a subsidiary of Portuguese energy company Galp Energia, has 40 percent.

In a separate discovery, Petrobras’ onshore Guayacan wildcat well in block ES-T-495, located 120 kilometres from the city of Vitória, found oil at about 700 metres. Drilled to a depth of 1,312 metres, the well is part of the Tabebuia Discovery Evaluation plan.

Petrobras is the sole owner and operator of the block. The company’s newly discovered onshore reserves will be evaluated to ascertain their commercial viability.

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