Peter Howard Wertheim
RIO DE JANIERO, Dec. 7 -- State-owned Petróleo Brasileiro SA (Petrobras) has discovered light oil in its 1-FRO-3-AL wildcat well on Block BT-SEAL-2 in the Sergipe-Alagoas basin, Brazil. It encountered the reservoir at 965 m.
The well verified oil pay indicated in seismic data. It is 37 km southeast of Maceió, Alagoas state.
The discovery is part of a trend toward light oil and natural gas in Petrobras's exploration. From August 1998 through August 2003 the company spent nearly $3.1 billion, drilled 386 exploration wells, and shot 330,000 km of 2D seismic and 60,000 sq km of 3D seismic data.
The effort has led to discovery of 1.96 billion bbl of crude oil and 14.8 tcf of natural gas, mainly in the Campos, Espirito Santo, Sergipe-Alagoas, and Santos basins.