By OGJ editors
HOUSTON, Aug. 8 -- Petróleo Brasileiro SA (Petrobras) and its partners on Block BS-3, in the Santos basin 175 km off Santa Catarina state in southern Brazil, sent a filing to Brazil's National Petroleum Agency Wednesday declaring the commerciality of its Caravela Sul discovery made by well 1-SCS-10 A earlier this year (OGJ Online, Jan. 17, 2003). The new field has been given the name Cavalo Marinho ("Sea Horse").
Petrobras earlier this year upgraded the field's reserves to 60 million bbl of oil from 40 million bbl, mainly because of its successful production test in the SCS-10A appraisal well.
Petrobras, with 35% interest, is the operator of Block BS-3, along with the Coral and Estrela-do-Mar licenses in the same area. Its partners in all three licenses are Queiroz Galvão Perfurações SA 30%, Vancouver-based Naftex Energy Corp.'s Brazilian unit Coplex Petroleo do Brasil Ltda. 27.5%, and Starfish Oil & Gas Co. 7.5%.
