New Oil Discovery in the Pre-salt at Block BM-S-8

Rio de Janeiro, March 20, 2012 - QGEP Participações S.A. (BMF&Bovespa: QGEP3) today announced the presence of new high quality oil at Block BM-S-8 in the ultra-deep waters of the pre-salt in the Santos Basin. Queiroz Galvão Exploração e Produção S.A. has a 10% participating interest in the block, which is operated by Petrobras (66%). Other consortium members include Petrogal Brasil (14%)and Barra Energia do Brasil Petróleo e Gás Ltda. (10%).

The discovery occurred during the drilling of well 4-SPS-86B (4-BRSA-971-SPS) at the Carcará prospect, located 232 km off the coast of Brazil. The result was proven through oil samples of 31ºAPI in reservoirs at a depth of 5,750 meters. In progress drilling will determine the lower limit of the reservoir and identify any other potential pay zones.

Carcará is the third well that has been drilled in the Discovery Evaluation Plan of 1-BRSA- 532A-SPS (Bem-te-vi) and it is located 20 km from the block’s initial discovery, in water depths of 2,027 meters.

The consortium at Block BM-S-8 will continue to perform the necessary activities and investments to evaluate the area, according to the Evaluation Plan approved by the ANP - Agência Nacional do Petróleo, Gás Natural e Combustível.

“The presence of high quality oil during pre-salt drilling at the Carcará prospect reaffirms the exploratory potential of Block BM-S-8,” said Lincoln Guardado, QGEP’s Director of Exploration.

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Updated in  2013-12-10T15:25:47
All the dates of this page are presented in official timezone of Brasilia - Brazil.

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