OREANDA-NEWS. Petrobras have completed the drilling and formation test of the fourth exploratory well in the Iara area, located in the Santos Basin pre-salt layer. Read, below, the announcement published by our Investor Relations area:

“Petrobras announces it has completed the drilling and formation test of the fourth exploratory well at Iara area, block BM-S-11, in the Santos Basin pre-salt.

The results of this well 3-RJS-706 (3-BRSA-1132-RJS) have strengthened the potential of recoverable light oil from Iara and have confirmed the discovery of good quality oil (28? API) announced on March 5th.

The carbonate reservoirs, which start at a depth of 5,260 meters, have shown excellent porosity and permeability with better characteristics than those found in the discovery well (1-RJS-656, Iara). Results have confirmed excellent productivity of the reservoirs.

The well is 226 km off the coast of Rio de Janeiro, 6 km west of the discovery well, at a water depth of 2,197 meters.

The consortium will proceed with the activities outlined in the evaluation plan approved by Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP).

Well 3-RJS-715D (3-BRSA-1181D-RJS) is currently being drilled in the center of the evaluation plan area of Iara.

Petrobras is the operator of the consortium (65%) in partnership with BG E&P Brasil (25%) and Petrogal Brasil (10%).”