MercoPress. South Atlantic News Agency
Petrobras and Repsol agree to develop oil and gas off Santos
The consortium formed by Brazil’s government managed oil and corporation Petrobras (63%, operator) and Spain’s Repsol (37%) has delivered a Declaration of Commercial Viability for a light oil and gas discovery made in reservoirs located above the salt layer, in block BM-S-7, in the Santos Basin.
This discovery was announced after the completion of well 6-BRSA-661-SPS (6-SPS-53), on January 26 2009.
The new field, called Piracucá, is located off the coast of the State of São Paulo, some 200 kilometres from the city of Santos, in a water depth of 200 meters. The total in situ volume of the field is estimated at 88.5 million cubic meters (about 550 million barrels of oil equivalent).
The Declaration of Commercial Viability was made pursuant to the Concession Agreement for Block BM-S-7 according to the term established in the Evaluation Plan submitted to the NPA and it is the outcome of intense exploratory activity the Consortium has carried out in this block.
With the new field, it will be possible to increase the potential for light oil and gas production in shallow waters.
Top Comments
Disclaimer & comment rules-
Read all commentsUS Energy Secretary, Dr. Steven Chu said recently in the New York Times: ”If we don’t spend this money wisely and invest in new technology that addresses these challenges, we will have failed the country. We will have failed the world.”
Apr 09th, 2009 - 03:23 am 0I agree therewith. Particularly, we have to get real progress in petroleum exploration. What are we doing in exploration now? One commercial discovery in four wildcats, isn’t it? Why does 75% drilling efforts waste? Drilling of huge number of dry exploration holes hurts the world climate, as well as world economy, significantly.
There is a new technology for oil/gas detection providing above three discoveries in four wildcats. See: http://www.binaryseismoem.weebly.com .
With new technology (patented invention US 7,330,790) we could make up to three times more oil and gas discoveries than when using conventional technology. And the fact that new technology won’t need more investments is also very important. I disclosed the technology, designed it and successfully tested in the Barents and the Black Seas as well as in the Gulf of Mexico.
I will be happy to help any company to implement my technology. But petroleum industry (top geologists etc) ignores the technology because it will clear real company resources before investors.
A. Berg, Ph.D.
San Jacinto, CA
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