Part of the asset sale disposal program outlined in the 2012-2016 Strategic Plan
Repsol receives approval from Ecuador for a partial asset sale to Sinopec
Press Release01/08/2012 07:00
The well known as Pão de Açúcar, drilled into a hydrocarbons column of 500 metres, one of the thickest discovered in Brazil to date.
Pão de Açúcar is the third discovery to be made in block BM-C-33, which includes the Seat and Gávea, the latter being listed as one of the world’s 10 largest discoveries in 2011.
The three wells attest the significant potential of the Campos Basin, which could be confirmed as a large hydrocarbons nucleus similar to that existing in the Santos Basin.
The Brazilian offshore is one of the world’s biggest growth areas in hydrocarbons reserves.
Repsol Sinopec Brasil is the operator, holding 35% of the discovering consortium, and is partnered by Statoil (35%) and Petrobras (30%).