🕐09.02.12 - 03:27 Uhr

PETROBRAS - PRESS RELEASE: DRILLING OF FIRST WELL IN TRANSFER OF RIGHTS AREA COMPLETED AT FRANCO.



Dear Mr/Mrs Ramin Farzanehfar,

 

 
 
 
Rio de Janeiro, February 8th, 2012 – Petróleo Brasileiro S.A - Petrobras reports that drilling of the first well following the execution of the Transfer of Rights Agreement has been completed.

Results confirm the extension of oil reservoirs northwest of the discovery well at Franco area, in the pre-salt area of Santos Basin.
 
The well referred to as 3-BRSA-944A-RJS (3-RJS-688A) and informally known as Franco NW, is located at a water depth of 1,860 meters, 188 km off the city of Rio de Janeiro and 7.7 km northwest of discovery well 2-ANP-1-RJS (Franco).
 
The discovery was confirmed through good quality oil samples (28º API), obtained from cable tests collected from 5,460 meters.
 
The well confirmed the same oil/water contact of the discovery well, and drilled through excellent quality carbonate rock reservoirs and thickness similar to those found in well 2-ANP-1-RJS (Franco).
 
Next, a formation test will be conducted to assess the well’s productivity and Petrobras will proceed with the activities and investments included in the Minimum Exploratory Program (PEO) of the Transfer of Rights Agreement, which also includes the acquisition of 3D seismic data of the area.
 
 

  
 
 
Sincerely,

Investor Relations.
 

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www.petrobras.com.br/ri/english
Contacts: PETRÓLEO BRASILEIRO S.

A.

- PETROBRAS
Investor Relations Department I E-mail: /
Av.

República do Chile, 65 – 22nd floor - 20031-912 - Rio de Janeiro, RJ I Tel.: 55 (21) 3224-1510 begin_of_the_skype_highlighting            55 (21) 3224-1510      end_of_the_skype_highlighting / 9947

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Such terms as “anticipate”, “believe”, “expect”, “forecast”, “intend”, “plan”, “project”, “seek”, “should”, along with similar or analogous expressions, are used to identify such forward-looking statements.

These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company.

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