Dear Mr/Mrs Ramin Farzanehfar,

 

New discovery in post-salt of Marlim Sul, Campos Basin

 

Rio de Janeiro, January 3rd, 2013 – Petróleo Brasileiro S.A.

– Petrobras announces the discovery of a new oil accumulation in a post-salt reservoir, in ultra-deep waters of Campos Basin.

The discovery was made by well 4-MLS-105D-RJS, informally known as Mandarim, which is located in Marlim Sul field, 126 km off the coast of Rio de Janeiro state, at a water depth of 1,874 meters.

The accumulation is located in Eocene-age arenaceous reservoirs at a depth of approximately 2,965 meters.

Preliminary estimates indicate an oil column of 100 meters, with oil quality similar to the oil produced in Marlim field (13 to 16 degree API).

Tests to evaluate the productivity of the reservoir are expected to be completed in 2013.

The well is located next to the P-56 platform, which is currently in operation in Marlim Sul field, where production and flow structures are already in place.

This will allow Petrobras to expedite its start up, which may take place in 2014.

 

Sincerely,

Investor Relations.

 

To be removed from this E-mail Alert service, please send a reply with the subject: Unsubscribe.