New Discovery in the Espírito Santo Basin

We discover a new oil accumulation in the Cretaceous reservoirs of the Espírito Santo Basin. The discovery resulted from the drilling of well informally known as Brigadeiro, at a 1,900 meter water depth in the Concession area BM-ES-23, block ES-M-525, 115 km off the Espírito Santo coast.

The discovery was proved by logging (records of a formation's characteristics) and fluid sampling (liquids and gases) performed through a cable test in reservoirs trapped at a depth of around 4,200 meters. We are the operator (65%) of the consortium formed to explore block, which also includes Shell Brazil Petróleo Ltda (20%) and Inpex Petróleo Santos Ltda (15%).

The consortium will continue operating in the concession area, where two other wells are being drilled under the Minimum Exploration Program. After this program has been completed, the consortium may submit an Evaluation Plan proposal to the ANP to delimit the accumulation that was discovered.