Overview
- Petrobras, which announced the find Monday, detected hydrocarbons in exploratory well 1-BRSA-1404DC-RJS in Block C-M-477 about 201 kilometers off Rio de Janeiro at 2,984 meters water depth.
- The hydrocarbon zone was identified using electric logs, gas shows, and fluid samples gathered during drilling.
- Samples have been sent to laboratories to characterize the rock and fluids, with follow-up studies, delimitation wells, and production tests needed before any estimate of recoverable volumes.
- Petrobras operates the block with a 70% stake and BP holds 30%, and the company says the initial drilling finished safely with respect for environmental standards.
- The announcement lifted Petrobras shares, while local officials cautioned that any new output and related royalties would likely take four to five years if the area proves viable.