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Tuesday 10 April, 2012

Galp Energia. SGPS, S.A.

Galp Energia. SGPS, S.A. : Well confirms discov...

Galp Energia. SGPS, S.A. : Well confirms discovery extension in pre-salt of Santos Basin

Galp Energia, partner of the consortium for the exploration of block BM-S-11, informs it has completed the drilling of the extension exploratory well 3-BRSA-1032-RJS (3-RJS-697), informally known as Iara Oeste, located in the Iara Evaluation Area, in the pre-salt of Santos Basin. The well is 223 km off the coast of Rio de Janeiro, some 9 km from the discovery well, at a water depth of 2,150 meters.

The Iara Oeste well is the third well drilled in the Discovery Evaluation Plan of Iara and reached the total depth of 6,050 meters.

The result was confirmed through good quality oil samples ranging from 21º and 26º API in carbonate reservoirs of the pre-salt, as of 5,430 meters in depth, demonstrating the high potential of the pre-salt reservoirs of this area.

The consortium will carry on the activities set forth in the Evaluation Plan approved by the National Petroleum, Natural Gas and Biofuels Agency, including formation tests to evaluate the productivity of the reservoir.

Galp Energia, through its subsidiary Petrogal Brasil, holds a stake of 10% in the contractor group that explores BM-S-11, while Petrobras (operator) holds 65% and BG Group the remaining 25%.

Galp Energia holds stakes in three other blocks in this basin with high exploratory potential: BM-S-8 (14%), BM-S-21 (20%) and BM-S-24 (20%).

  

Galp Energia. SGPS, S.A., Public Company
Investor Relations and Corporate Communication Division

Rua Tomás da Fonseca, Torre A
1600-209 Lisbon, Portugal
Tel: +351 217 240 866
Fax: +351 217 242 965
Email: [email protected]
www.galpenergia.com




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Source: Galp Energia. SGPS, S.A. via Thomson Reuters ONE

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