Peter Howard Wertheim
OGJ correspondent
RIO DE JANEIRO, Oct. 1 -- Brazil's state-owned oil company Petroleo Brasileiro SA (Petrobras) Wednesday reported an onshore discovery of 42º gravity oil in the Recôncavo Baiano basin on BT-REC (Block)11 in Bahia state.
Estimates from exploratory well 1-SRC-2D-BA in Esplanada indicate a recoverable volume of 4.6 million bbl. The find, part of the Formação Água Grande reservoir, cut 27 m of oil-saturated sandstone at 800 m. The well was drilled at an angle from the same entry point as an earlier dry hole. Petrobras officials said they expect to determine commerciality of the discovery within 2 weeks. A partner in the block is Brazilian independent Starfish Oil & Gas Co.
Light oil also was discovered offshore last year in the Espírito Santo basin (OGJ Online, June 06, 2003). These discoveries could decrease the amount of light oil the country must import to blend with its heavy oil for local refining.
Espírito Santo basin
Petrobras expects 50% of the new reserves in the Espírito Santo basin to be light crude. The company said it could double its 1.2 billion bbl of oil reserves and triple its 25 billion cu m of natural gas reserves there by 2009, justifying the $6 billion it plans to invest in Espírito Santo state through 2010, a company official told OGJ.
Espírito Santo state currently produces 40,000 b/d of oil and 1.4 million cu m/day of gas. The first hike in output is expected in 2006, after the start of commercial operations of the P-34 floating production, storage, and offloading platform on Jubarte oil field and the start of commercial operations at recently discovered Golfinho field.
Jubarte, in the Campos basin, produces 17º gravity oil. Golfinho, off Espírito Santo, has 28º-34º gravity oil.