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Repsol’s fourteenth discovery this year

Repsol makes new discovery in Brazil's Santos Basin

  • Repsol has a 25% stake in the discovering consortium of Abare West in the Santos Basin.
  • Tests are underway to determine the quality and quantity of the discovered resources.
  • The recent tests completed in Guara estimate the potential of that area, adjacent to Carioca, at between 1.1 billion and 2 billion barrels of oil equivalent.
  • The Santos Basin is one of the company’s main growth vectors.
  • Repsol is the international oil company with most exploration acreage in the Santos, Campos and Espirito Santo Basins, participating in 21 blocks of which 11 are operated.      

Press Release

15 September 2009 10:15 CET

Repsol and partners Petrobras and British Gas (BG Group) have made a new oil and gas discovery in block BM-S-9 of Brazil’s deep water Santos Basin. The find was made in the well 4-SPS-66C, known as Abare West, of the Carioca area. The well is 290 kilometres from the coast of Sao Paulo, in water 2,163 metres deep.

The discovering consortium, formed by Repsol (25%), Petrobras (45%), and BG Group (30%), is carrying out evaluation work in the area in accordance to the plans submitted to the Brazilian National Petroleum Agency (ANP).

Block BM-S-9 is made up of the Guara and Carioca areas. Samples of Oil, gas and carbon dioxide found at depths of 5,150 metres are under analysis.

Repsol is the privately-held oil company with most exploration acreage in the Santos, Campos and Espirito Santo basins. The company participates in 21 exploration blocks, of which it operates 11. The recent discovery of hydrocarbons traces in the Vampira well, and the discoveries made in the first half of the year in Panoramix, Piracuca and Iguazu followed from the finds made in the Carioca and Guara fields to consolidate Brazil’s offshore as one of the world’s largest source of new hydrocarbons reserves.

Repsol recently announced that production tests in the Guara area allow the company to estimate recoverable volumes of between 1.1 and 2 billion barrels of oil equivalent of high quality oil and gas. Because of the field’s high potential, a 120,000 boe/d platform will be installed, making it the second field in production in the pre-salt Santos Basin.

During 2009 Repsol has reported 14 oil and gas discoveries amongst which are some of the biggest finds made worldwide. The exploratory success of 2009 comes after an extraordinary campaign in 2008, when Repsol took part in three of the world’s five largest discoveries.

 

Click here for more information on the Guara production tests reported on September 9th, 2009.
 
Latest exploratory success in the Santos Basin:


• September 9th 2009: Production tests at Guara indicate that the recoverable volume is between 1.1 and 2 bboe of light crude and gas.

• April 15th 2009: Repsol announces a discovery at the Iguazu well in BM-S-9, 340 kilometres from the coast of Sao Paulo and at depth of 2,140 metres. 

• April 7th 2009: Repsol and Petrobras confirm the economic viability of the Piracuca well (previously known as Pialamba) with an estimated 550 mboe.

• January 15th 2009: Repsol announces a find in the Panoramix well (S-M-674), in the BM-S-48 area, 180 kilometres from the coast of Sao Paulo in water 170 metres deep in the Santos Basin.

• September 3rd 2008: Repsol begins drilling in the wells it operates. The Sovereign Explorer platform arrives in Brazil to start offshore drilling.

• June 13th 2008: Repsol announces a discovery in Guara, with a high potential for high-quality reserves according to preliminary tests. Located in Block BM-S-9 the find confirms the Santos basin as one of the world’s deepwater areas of most potential.

• February 25th 2008: Stena DrillMax I arrives in Brazil. The unique 6th generation exploration vessel, built by Samsung Heavy Industries of South Korea. Is hired for four years.

• September 10th 2007: Repsol announces the discovery of Carioca. The deepwater oil field in the Santos Basin is in Block BM–S-9, located 273 kilometres from the coast of Sao Paulo, at a depth of 2,140 metres. 

   

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