OilVoice - El Paso Corporation Announces Tot Discovery, Offshore Brazil

El Paso Corporation Announces Tot Discovery, Offshore Brazil

Thursday, December 04, 2008

El Paso Corporation announces that the Tot exploration well, 1-ESS-185D, located in the ES-5 block offshore Brazil, is a discovery. Through its Brazilian E&P subsidiary, El Paso has a 35 percent working interest in the Petrobras-operated well. The well is located 30 kilometers offshore in 61 meters of water, and was drilled to a total vertical depth of 4,521 meters. Preliminary evaluation of logs and core analysis suggests a reservoir thickness similar to the main objective in the Camarupim development on the south end of the block. Continuing formation evaluation, including possible drill stem tests, will be forthcoming.

"We are delighted to report a new discovery in the ES-5 block along with excellent progress on the Camarupim development project," said Brent Smolik, president of El Paso Exploration and Production. "In 2009, we will begin to realize the benefits of our successful exploration efforts in Brazil, and our production there will become an increasingly important part of our future production and reserve growth."

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