Santos basin wildcat penetrates hydrocarbon-bearing zones

PanAtlantic Energy Group, Houston, formerly Vanco Overseas Energy Group, said the Sabia-1X exploratory well operated by its Brazilian subsidiary in the Santos basin offshore Brazil has penetrated multiple hydrocarbon-bearing zones of interest.

Sabia-1X went to a total depth of 4,200 m in 195 m of water on the BM-S-72 block. Wireline logs, reservoir pressures, and fluid samples will be further analyzed in coming months, and the well will be abandoned in accordance with ANP requirements. The well has presalt and shallower objectives.

Meanwhile, the GSF Arctic I semisubmersible will move to the Canario prospect on BM-S-63 early next week, PanAtlantic said. Canario is 20 km southwest of the 2010 Piracuca oil discovery, and Sabia is 20 km southwest of Canario.

PanAtlantic, through its Brazilian subsidiary Vanco Brasil Exploracao e Producao de Petroleo e Gas Natural Ltda., holds a 70% working interest in the BM-S-72, BM-S-63, and BM-S-71 concessions together with Panoro Energy do Brasil Ltda. 15% and Brasoil Round 9 Exploracao Petrolifera Ltda. 15%.

As revealed in July, Vanco Brasil and Ecopetrol Oleo e Gas do Brasil Ltda., a subsidiary of Ecopetrol SA, signed an agreement in which Ecopetrol Oleo will acquire from Vanco Brasil a 30% interest in the three concessions, subject to ANP approval.

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