Drilling Initiated at Carcará Well in Block BM-S-8

Rio de Janeiro, December 14, 2011 - QGEP Participações S.A. (BMF&Bovespa: QGEP3) today announced that drilling activities started on December 10, 2011 at the Carcará well (4-SPS-86A) located in Block BM-S-8, targeting the pre-salt section. Queiroz Galvão Exploração e Produção S.A. holds a 10% participating interest in Block BM-S-8, which is operated by Petrobras. Other consortium members are Petrobras (66%), Petrogal Brasil (14%) and Barra Energia do Brasil Petróleo e Gás Ltda. (10%).

Block BM-S-8 is located in the Santos Basin approximately 270 km from the coast in water depths of approximately 2,025 meters. The 4-SPS-86A well is being drilled by the Sevan Driller Rig (SS-74), the same rig used in the drilling of the Biguá prospect. A final depth of approximately 6,900 meters is expected to be reached within five to six months.

“The back to back drilling of a new well and the continuation of the same rig previously used in Block BM-S-8 demonstrates the consortium’s confidence in the high prospectivity of the area”, said Lincoln Guardado, QGEP’s Exploration Officer.

Updated in  2013-12-11T14:50:53
All the dates of this page are presented in official timezone of Brasilia - Brazil.


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