Yesterday, Sinopec announced that the company's key exploration well in Brazil - Pao, de Açúcar Well successfully passed the DST test, and the initial oil testing results show that this well could produce 5,000 barrels of crude oil and 810,000 cubic meters of natural gas.
Sinopec said this was one of the major exploratory discoveries of oil, and it marked the major strategic breakthrough in the exploration in Brazil in year 2011, which found the large oil and gas field of 10 million tons of reserves.
It is said that the well was located in the Campos basin in Brazil BM-C-33 area, with the average water depth of 2400 meters. Before, two wells were drilled there. So "Pao de Acucar" is the third important discovery of oil and gas of Sinopec in BM-C-33 blocks.
The block is owned by RSB company, the Brazil national oil company and the Norway national oil jointly. RSB company is the joint venture of Sinopec International Exploration and Production Corporation and the Spanish oil company Repsol. Repsol. Among them, RSB joint venture works for the exploration of the international consortium of operator, owns 35% stake, while its partners - the Norway national oil and Brazil's national oilowns 35% and 30% of the shares respectively.
In addition, Sinopec also said that the drilling of Pao, de Açúcar well was started on August 8, 2011 and would be finished on January 10, 2012, with a depth of 7151 m. Currently, they're further carrying out comprehensive geological studies based on the well drilling and test data, and working actively preparing for the early realization of business.
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