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BG Group: Appraisal well confirms extension of Santos Basin discovery

Tuesday, April 10, 2012
  • Encountered good quality oil (21° to 26° API, and within the anticipated range) in the pre-salt carbonate reservoirs at a depth of 5 430 metres.

BG Group today announced the completion of drilling at an appraisal well in the BM-S-11 concession, off-shore Brazil, with good quality oil samples encountered. The results confirm the westerly extension of the Iara accumulation in the pre-salt Santos Basin and demonstrate the high potential of the pre-salt reservoirs within that area.

The BRSA-1032-RJS well, informally known as Iara West, is located 223 kilometres offshore Rio de Janeiro and approximately nine kilometres from the Iara discovery well in a water depth of 2 150 metres. It encountered good quality oil (21° to 26° API, and within the anticipated range) in the pre-salt carbonate reservoirs at a depth of 5 430 metres.

Iara West, which reached a final depth of 6 050 metres, is the third well drilled in the Iara area and is part of the fast-track programme to develop the world-class pre-salt Santos Basin discoveries.

BG Group and its partners will continue to appraise the area, including formation tests to evaluate reservoir production, in line with the plan approved by Brazil's National Agency of Petroleum, Natural Gas and Biofuels (ANP).

BG Group has a 25% interest in the BM-S-11 block (Petrobras, operator, 65%, Petrogal Brasil/Galp Energia 10%).

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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