Notice to the Market - QGEP Initiates Drilling at Block BM-S-12 in the Santos Basin

Rio de Janeiro, July 13, 2011 - QGEP Participações S.A. (BMF&Bovespa: QGEP3) today announced that the drilling activities at the Ilha do Macuco well (3-SCS-15) located at Block BM-S-12 in the Santos Basin started last July 10, 2011. The activities are being held to test the Santos#1, Santos#2, Santos#3 and Santos#4 prospects, the latter located in the pre-salt section of the Basin. Queiroz Galvão Exploração e Produção S.A., a QGEP Participações S.A. wholly owned subsidiary, holds a 30% participating interest in this block, which is operated by Petrobras.

Block BM-S-12 is located approximately 230 km from the coast in water depths of about 495 meters. The 3-SCS-15 well is initially being drilled by the SS-79 rig (Lone Star) until it reaches a depth of 2,200 meters. Thereafter, the Lone Star rig will be replaced by the SS-46 rig (Ocean Baroness), for the drilling of the second stage, at which time the prospects will be tested. The 3-SCS-15 well is expected to reach a final depth of about 6,400 meters and the drilling activities are expected to last five to six months.

“The beginning of the first drilling stage, being carried with the Lone Star rig, reinforces the operator’s commitment to start activities at a priority block with such high oil potential”, said Lincoln Guardado, Exploration Officer.

Click here to access the Notice to the Market.

Updated in  2013-12-11T10:55:44
All the dates of this page are presented in official timezone of Brasilia - Brazil.


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