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Repsol finds in Brazil a third oilfield in the Campos Basin

Published on Feb. 27, 2012

 
Repsol finds in Brazil a third oilfield in the Campos Basin

The National Securities Market Commission was informed by Repsol Sinopec Brasil that the company had found a new oilfield in the deep waters of the Campos Basin in Brazil.

The deep pool, so-called Pao de Açúcar, is located in the sector BM-C-33, in a 2.800 water sheet and it present two hydrocarbon accumulations with a 500 meter total height, one of the biggest heights found in Brazil up to now. First evaluations show that Pao de Açúcar contains high quality resources potential and excellent oil flow rates. Production tests scored 5.000 crude oil barrels and 807.349 cubic meters of gas daily.

The discoverer consortium, composed by Repsol Sinopec Brasil (35%), Statoil (35%) and Petrobras (30%), will perform additional test to confirm the extension of the oilfield.

Pao de Açúcar joins the other two oilfields already discovered in the sector BM-C-33: Seat and Gavea (considered one of the great discoveries of 2011 in the World)

Repsol remarked that these three oilfields confirm the potential of the Campos Basin, which could present a similar quantity of hydrocarbons than the Santos Basin.

The diversified project portfolio of Repsol Sinopec Brasil includes a productive camp (Albacora Leste), two under-development camps (Piracucá and Sapinhoá), an under-evaluation sector ((BM-S-9: Carioca) and twelve high potential scouting sectors, from which they operate five.

Repsol Sinopec Brasil was created at the end of 2010 by the Spanish Repsol (60%) and the Chinese Sinopec (40%) in order to develop exploratory and production projects in Brazil.

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