Brazil Petrobras Reports Gas Find In BM-ES-5 Block To ANP
January 28 2009 - 8:13AM
Dow Jones News
Brazilian state-run energy giant Petroleo Brasileiro (PBR)
notified the country's National Petroleum Agency late Tuesday of
gas finds in two separate offshore blocks, according to the ANP's
Web site.
In a routine filing with the ANP, Petrobras said it had
discovered traces of gas in the BM-ES-5 block in the Espirito Santo
Basin and the BCAM-40 block in the Camamu Basin.
The BM-ES-5 find was made at a water depth of 60 meters,
according to the ANP. Petrobras previously announced a similar find
in the same block in December. Petrobras is lead operator of the
block with a 65% stake, while the Brazilian unit of El Paso Corp.
(EP) has a 35% stake.
In addition, the BCAM-40 discovery was made at a water depth of
295 meters. Petrobras is also lead operator of the block with a 35%
share. Local oil company Manati has a 45% stake, while Brasoil
Manati Exploracao Petrolifera and Rio das Contas Produtora de
Petroleo each hold a 10% share.
Oil companies operating in Brazil must inform the ANP of
indications of oil, gas or hydrocarbons in any exploratory well
within 72 hours. The disclosures are routine and do not indicate
commercial viability.
-By Jeff Fick, Dow Jones Newswires; 55-21-2586-6085;
jeff.fick@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front
page of today's most important business and market news, analysis
and commentary. You can use this link on the day this article is
published and the following day.