Petrobras – Investor Relations

Petrobras

Investor Relations

Oil discovery in Angola

Rio de Janeiro, February 18 2010 – Petróleo Brasileiro S.A. – Petrobras, announces two new oil discoveries made in Block 15/06, in deep Angolan waters. The Company holds 5% stakes in Block 15/06 and Eni is the operator, holding 35% of the working interest in it.
The wells Nzanza-1 and Cinguvu-1 are located around 350 km northwest of Luanda, in a water depth of some 1.400 meters.
 
During production test, the Nzanza-1 well produced oil with a density of 18 API gravity at rates above 1,600 barrels/day. At Cinguvu-1, the production test reached a maximum flow of 6,400 barrels/day of oil with a density of 23 API gravity.
 
The other partners are Sonangol P&P (15%), SSI Fifteen Limited (20%), Total (15%), Falcon Oil Holding Angola AS (5%), and Statoil Angola Block 15/06 AS (5%).
 
Nzanza-1 and Cinguvu-1 results follow the success of Cabaça Norte-1 reaching a count of three consecutive oil discoveries in the block in 2009, and five in total, including Sangos and N’Goma drilled by Block 15/06 partnership in 2008. Additional exploratory wells will be drilled in Block 15/06 yet this year.
 

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