Brazilian giant Petrobras has made a new oil find in the shallow waters of the Campos basin, saying the discovery holds estimated recoverable reserves of 25 million barrels.
Petrobras said the 4-PM-53 well hit a 128 metre net pay column of 20 degree API oil.
“The volume of recoverable oil has been estimated at 25 million barrels,” the company in a statement. Due to the quality and thickness of the reservoir, it is estimated the oil wells flow will be approximately 3000 barrels per day.”
The well lies close to existing platforms in the Pampo and Bicudo concessions.
“Since there is already production infrastructure installed at the site, the well will go on stream later on this year,” said Petrobras.
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