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20031-912 - Rio de Janeiro, RJ
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New Oil Accumulation Discovered in the Santos Basin Pre-Salt Layer
(Rio de Janeiro, May 21, 2008). – PETRÓLEO BRASILEIRO S.A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, announces that the consortium formed by Petrobras (66% - block BM-S-8 operator), with the participation of Shell (20%), and Galp Energia (14%) in ultra-deep Santos Basin waters, has proved the presence of oil in pre-salt reservoirs via well 1-BRSA-532A-SPS (1-SPS-52A). Preliminary analyses indicate oil gravity is between 25 and 28 ºAPI, comparable to that of the other pre-salt oils found in the Santos Basin.
This pioneer well is located some 250 km off the coast of the state of São Paulo, at 2,139 meters water depth (see the Figure below). It was completed on 05/18/08, at a depth of 6,773 meters.
The discovery was proved via an oil sampling by a lined well formation test in reservoirs situated at a depth of nearly 6,000 meters.
The Consortium is preparing a Discovery Assessment Plan to be sent to the ANP, as provided for in the Concession Agreement, giving continuity to the investment activities for block BM-S-8.
www.petrobras.com.br/ri/english
Contacts: PETRÓLEO BRASILEIRO S. A. – PETROBRAS
Investor Relations Department I E-mail: petroinvest@petrobras.com.br / acionistas@petrobras.com.br
Av. República do Chile, 65 – 22nd floor - 20031-912 - Rio de Janeiro, RJ I Tel.: 55 (21) 3224-1510 / 9947
This document may contain forecasts that merely reflect the expectations of the Company’s management. Such terms as “anticipate”, “believe”, “expect”, “forecast”, “intend”, “plan”, “project”, “seek”, “should”, along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein.
PETRÓLEO BRASILEIRO S.A--PETROBRAS |
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By: |
/S/ Almir Guilherme Barbassa
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Almir Guilherme Barbassa
Chief Financial Officer and Investor Relations Officer |
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This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.