Declaration of Commerciality for Carioca Area

Declaration of Commerciality for Carioca Area

Petrobras, operator of Consortium BM-S-9, submitted today to Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP) the Declaration of Commerciality for the Carioca oil accumulation, located in the Santos Basin pre-salt.

In the proposal sent to the regulatory agency, the consortium recommends that the new field, which is formed by reservoirs containing good quality oil (of approximately 26º API), should be named as Lapa. With a total estimated recoverable volume of 459 million barrels of oil equivalent (boe), Lapa is one more large-size field discovered in Brazil’s pre-salt layer.

Lapa field is 270 km off the coast of the state of São Paulo at a water depth of 2,140 meters.

Along with the Declaration of Commerciality, the consortium submitted to the ANP the Final Report of the Discovery Evaluation Plan, which was prepared as of the first well drilled in 2007. Three-dimensional (3D) seismic data was gathered, five wells drilled, three formation tests and an extended well test were carried out in Carioca area.

Consortium BM-S-9 is operated by Petrobras (45%), in partnership with BG E&P Brasil (30%) and Repsol Sinopec Brasil (25%).

After the Declaration of Commerciality, the Lapa Field Development Plan will be submitted to the ANP within 180 days.

Petrobras 2013-2017 Business and Management Plan forecasts the first oil of this field for the 3rd quarter of 2016.

In 2011, this consortium had already declared the commerciality of the Sapinhoá field (former Guará area), also located in BMS-9 block. Sapinhoá currently produces, through the FPSO Cidade de São Paulo, around 30,000 barrels of oil per day, via one single well. Additional wells are being connected in the beginning of 2014.