Brazil's Petrobras announces discovery in Amazon Rainforest region

11:32, November 27, 2010      

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Brazil's state-controlled oil and gas company Petrobras announced on Friday a new discovery in the Amazon Rainforest region.

According to the company, the preliminary data of the Long Duration Test started in September in the 1-ICB-1-AM well, also known as Igarape Chibata 1, confirmed an accumulation of light oil and natural gas.

The well, which reached a depth of 3,485 meters, is located in block SOL-T-171, in the Solimoes Basin. The block is in the town of Tefe, some 630 kilometers from Manaus, capital of Amazonas state, in Brazil's northern region.

Petrobras informed that it holds 100 percent stakes of the block. According to the company, the 1-ICB-1-AM well can produce up to 2,500 barrels of oil per day, which is considered excellent given the type of basin.

Further studies will be carried out in order to acquire more seismic data, as well as define the extension of the oil accumulation and confirm the economic viability of the area. New wells are also expected to be drilled.

According to Petrobras, the success of the exploration is a result of the resumption of the investments in the onshore basins in the Amazon Rainforest region, as foreseen by the company's Strategic Plan.

Source: Xinhua


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