First Libra Offshore Oil Well Confirms Discovery

Maritime Activity Reports, Inc.

October 30, 2014

Petrobras sign

Petrobras sign


Libra consortium reports that drilling the first well in the area extension of Libra, the 3-BRSA-1255-RJS (3-RJS-731), confirmed the discovery of good quality oil in the northwestern part of the structure .

Well, informally known as NW1, is located in the pre-salt Santos Basin, approximately 170 km off the coast of Rio de Janeiro and about 4 km southeast of the discovery well, 2-ANP-2A RJS.

The carrier oil interval was found through profiles and fluid samples, which will subsequently be characterized by laboratory analysis. The well is still being drilled at a depth of 5,326 meters, and continue until the 5850 meters.

The consortium will continue its operations to complete the project well drilling to the intended depth and to verify the extension of the new discovery, in addition to characterize reservoir conditions encountered.

The consortium of Libra is formed by Petrobras (operator, 40%), Shell (20%), Total (20%), CNPC (10%) and CNOOC Ltd. (10%), and Pré-Sal Petróleo SA (PPSA ) the management of the contract. (PPSA). Libra was first auctioned by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) under the production sharing regime area.

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