Brazil Petrobras CEO: Drilling Two Wells For ANP - Estado
13 Octubre 2009 - 12:34PM
Noticias Dow Jones
Brazilian state-run energy giant Petrobras (PBR) is drilling two
wells for the country's National Petroleum Agency, Petrobras Chief
Executive Jose Sergio Gabrielli said Tuesday.
Gabrielli was quoted as saying by the local Estado news agency
that the two wells were made to help better delineate so-called
subsalt oil reserves that will be ceded to Petrobras from the
government as part of a capital infusion. Gabrielli didn't disclose
the locations of the drilling.
"The price of the oil that is going to define the process and
value of the Petrobras capital injection is going to come out of
these areas," he said.
The subsalt finds were made under a thick layer of salt in the
Santos Basin off the coast of Sao Paulo and Rio de Janeiro states.
The oil lies under more than 2,000 meters of water and a further
5,000 meters under sand, rock and a shifting layer of salt.
The ANP, the country's top oil and natural gas regulatory, hired
Petrobras to do the drilling in September. The use of two Petrobras
drilling rigs was also cited by the agency as a motive for
extending several exploration concessions.
-By Jeff Fick, Dow Jones Newswires; 55-21-2586-6085;
jeff.fick@dowjones.com