Wednesday, May 26, 2010

Brazil's Petrobras Discovers Oil In Caratinga Field

SAO PAULO (Dow Jones)--Brazilian state-run energy giant Petrobras (PBR) said late Tuesday that it discovered two light oil accumulations in an well in the Caratinga field area, about 106 kilometers off the coast of Rio de Janeiro.

"The accumulation discovered in Albian age carbonatic reservoirs (post-salt) is nestled at a depth of 3,950 meters. Preliminary estimates indicate recoverable volumes of about 105 million barrels of oil equivalent," the company said.

"The other accumulation confirmed by the well, found in Aptian age carbonate reservoirs (pre-salt) and at a depth of 4,275 meters, appears to be an extension of the accumulation discovered previously by well-BR-63A 6-RJS in Barracuda Field area. This last accumulation was announced by the company in February and preliminary data indicate recoverable volumes of about 40 million barrels of oil equivalent," it added.

According to Petrobras, if the extension assumption is confirmed, preliminary data indicates a total estimated recoverable volume of 360 million barrels of oil equivalent to these accumulations.

-By Rogerio Jelmayer, Dow Jones Newswires; 55-11-3544-7071;

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