Brazil
The first data obtained from the Extended Well Test (EWT) confirm the discovery of a new accumulation of light oil (46ºAPI) in Tefé, in the state of Amazonas. The information we have obtained thus far indicates that the well is capable of producing 2,500 barrels of oil per day, an excellent result when dealing with this type of basin in Brazil.
The well was drilled in the Solimões basin, 630 km away from Manaus and 32 km from the Urucu Oil Province. We hold a 100% interest in exploration and production for this block and have already produced oil and natural gas in three fields in the city of Coari.
In addition to the test, which got underway in September and is expected to last a year, the Discovery Assessment Plan (DAP), approved by the National Petroleum Agency (ANP), provides for the acquisition of new seismic data and the drilling of delimitation wells. This work aims to determine the extent of the accumulation, to quantify the reserves, and to prove the cost-effectiveness of the accumulation.
This exploratory success is the outcome of the resumption of the exploratory investments, made from 2005, in the onshore basins in the Amazon, as foreseen under our Strategic Plan, which directs efforts to new frontiers where Petrobras' knowledge, technology, and operating experience afford it a competitive advantage.
