The drilling of the third well in the Carcará area (Block BM-S-8) in the Santos Basin´s ultra-deep waters has confirmed the light oil potential of pre-salt reservoirs. Well 3-SPS-104DA, informally known as Carcará Northwest, is within the Discovery Evaluation Plan area of discovery well 4-SPS-86B (Carcará). The new well is located 5.5 km northwest of the discovery well, some 226 km from the coast of the state of São Paulo and at a water depth of 2,024 m.

The pressure data indicate that it is in the same accumulation as two other wells previously drilled in the area, confirming the westward extension of 4-SPS-86B’s discovery, and confirming the presence of good quality oil (31º API) in carbonate reservoirs of excellent quality, located right below the salt layer at a depth of 5,870 m. A significant oil column of 318 meters was found and there has been no oil/water contact from this accumulation.

Continuing to implement the Discovery Evaluation Plan, the productivity of the pre-salt reservoirs will be evaluated over the coming days by formation tests in the recently completed well 3-SPS-105. The Carcará Discovery Evaluation Plan, approved by Brazil´s Nacional Petroleum, Natural Gas and Biofuels Agency (ANP), is expected to be completed by March 2018.

We are the operator of the consortium (66%), in partnership with Petrogal Brasil (14%), Barra Energia do Brasil Petróleo e Gás (10%) and Queiroz Galvão Exploração e Produção S.A. (10%).