Petrobras submits Tupi, Iracema commerciality declaration

By OGJ editors
HOUSTON, Dec. 29
-- Petroleo Brasileiro SA (Petrobras) submitted to Brazil's National Petroleum Agency (ANP) a declaration of commerciality for the presalt oil and gas fields in the Tupi and Iracema areas of Block BMS-11 in the Santos basin off Brazil.

Petrobras proposed the names Lula and Cernambi for the fields in the Tupi and Iracema areas, respectively.

In its commerciality declaration, Petrobras reports that Lula contains 6.5 billion boe and Cernambi contains 1.8 billion boe of recoverable oil and gas.

The oil gravity is 28° in Lula and 30° in Cernambi.

Petrobras notes that Lula will be the first supergiant oil field in Brazil with recoverable volumes more than 5 billion boe, while Cernambi is among the top-five giant fields in Brazil.

Along with the commerciality declaration, Petrobras also submitted to ANP the final report on the evaluation plan and the development plan for the two fields.

Petrobras drilled the discovery well for the area in October 2006 and since then has drilled 11 wells in area. In April 2009, the company began an extended well test in Tupi that provided information for estimating recoverable volumes and formulating a development plan.

Pilot production from the Tupi area began in October (OGJ Online, Oct. 28, 2010).

Petrobras is the operator of the block with a 65% interest. Block partners are BG Group 25% and Portugal's Galp Energia 10%.

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