13th Nov 2009 07:00
New well reinforces Tupi potential, Santos Basin, Brazil
BG Group today confirmed that in the Santos Basin pre-salt, offshore Brazil, hydrocarbons had been encountered in a new well known as Tupi North-East (3-BRSA-755A-RJS or 3-RJS-662A) on block BM-S-11.
Tupi North-East is located in the Tupi evaluation area in a water depth of 2 115 metres, approximately 265 km from Rio de Janeiro. The well is 18 kilometres to the north-east of the Tupi discovery well (1-RJS-628 or 1-BRSA-369).
Partners Petrobras (65%, operator), BG Group (25%) and Galp (10%) drilled the well which penetrated an approximately 250 metre thick section of carbonate reservoirs. Wireline testing confirmed the presence of light oil at approximately 28° API.
This is a further successful appraisal well which reinforces the partners' estimates that the Tupi accumulation holds 5 - 8 billion barrels oil equivalent of recoverable reserves.
Drilling on Tupi North-East has been concluded and drill stem tests to evaluate reservoir productivity will be conducted over the next few weeks.
The partners will continue the activities and investments foreseen in the Evaluation Plan approved by the Brazilian National Petroleum Agency (ANP), including the drilling of further wells in the area.
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Notes to Editors:
BG Group plc (LSE: BG.L) is a world leader in natural gas, with a strategy focused on connecting competitively-priced resources to specific, high-value markets. Active in 27 countries on five continents, BG Group has a broad portfolio of exploration and production, Liquefied Natural Gas (LNG), transmission and distribution and power generation business interests. It combines a deep understanding of gas markets with a proven track record in finding and commercialising reserves. For further information visit: www.bg-group.com
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There are matters discussed in this media information that are forward looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to BG Group's annual report and accounts for the year ended 31 December 2008. BG Group does not undertake any obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
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