New discoveries bode well for Brazil

New finds in Brazil's deep wells and Amazon basin are set to boost the country's reserves.

State-owned Petrobras announced its second discovery in the Solimões Basin, part of the State of Amazonas.  Located some 25km from the Urucu Oil Province, the Igrarapé Chibata Leste well reached almost 3,300m with tests showing a potential output of around 1,400b/d of 41° API oil and 45,000m³ of natural gas.

The discovery will add to the company's current 53,000b/d output from the region as well 11 million m³ of gas and 1,300 tons/day of LPG.

Meanwhile Petrobras is set to share in another possible discovery after a joint venture between Spain's Repsol and China's Sinopec announced the discovery of traces of oil from Brazil's deepest well currently being drilled.  The well, in block BM-C-33 of the Campos Basin, has not yet been declared commercially viable.  The Repsol Sinopec JV owns 35% of the block, with the remainder being held by Statoil and Petrobras.