Oil discovery in BPCL-Videocon block in Brazil

Oct 21, 2013 12:00 AM

A significant oil discovery has been made in an ultra-deep water block off Brazil where state- owned Bharat Petroleum Corp Ltd (BPCL) and Videocon Industries together hold 40 per cent interest.

Brazilian oil giant Petrobras, which is the operator of the block, has confirmed the Farfan-1 oil discovery in the ultra-deep waters of the Segipe-Alagoas basin, off Brazil, Videocon said in a statement.

The state-owned firm has confirmed excellent productivity of good quality crude following a drilling test.

Petroleo Brasileiro SA (Petrobras) has completed a test in well 3-BRSA-1178D-SES (3-SES-176D), informally known as Farfan 1, to test the production capacity of the accumulation in the BM-SEAL-11 concession area of Block SEAL-M-426.

Based on an evaluation of 30 metres of turbidite sandstones, the test found good quality oil with a density of 38 degrees API in a "good" reservoir with "excellent productivity", the statement said.

Farfan-1 is located 104 km north of Aracaju, the capital of the north-eastern Brazilian state of Sergipe. It lies in a water depth of 2476 metres, about 5 km from the Farfan discovery well.

Petrobras is the operator of the block with a 60 per cent interest while IBV Brasil (a 50:50 joint venture of BPCL and Videocon) holds the remaining 40 per cent stake.

A 51-metre reservoir was discovered at Farfan-1 well, a year after a 44-metre hydrocarbon column was found in Farfan a year ago.

The discovery has been estimated to hold more than 1 billion barrels of oil.

Petrobras chief executive Maria das Gracas Foster had previously said the BM-SEAL-11 concession could produce at least 100,000 barrels per day of oil, starting in 2018.

Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« June 2020 »
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30

Register to announce Your Event

View All Events