Brazil’s Petrobras Finds Large Gas Reserve off Espí­rito Santo Coast

Petrobras, the Brazilian state-controlled oil giant, announced yesterday, May 9, the discovery of more natural gas reserves in EspÀ­rito Santo Basin, in Brazil's Southeast. The discovery was through well 6-ESS-168, which is still being drilled by the company.

In the statement announcing the discovery, Petrobras informs that on reaching the depth of 3,378 meters, sandy reserves saturated with gas were found, with a depth of approximately 130 meters.

Petrobras points out, however, that the importance of the discovery of these new reserves, located in the north of Camarupim Field, is due to the confirmation of the large depth of the gas reserves – "which should result in an increase in recoverable volumes of gas in the area".

The new reserves are located on the coast of the southeastern Brazilian state of Espí­rito Santo, in exploratory concession BM-ES-5 and are being drilled approximately 37 kilometers away from the shore, at a depth of 763 meters.

Information supplied by the organization shows that the block is operated by Petrobras, with a 65% share, in partnership with American company El Paso, which has the remaining 35% share.

"Preliminary results confirm that the reserves extend further north in Camarupim Field, whose commercial capacity was declared at the end of 2006", according to the statement.