Brazil Vale, Italy's Eni Make 2nd Offshore Natural Gas Discovery
August 17 2009 - 9:13AM
Dow Jones News
The Brazilian unit of Italy's Eni SpA (E) and mining giant Vale
(VALE) reported late Friday a second natural gas discovery at an
offshore block in the Santos Basin.
The two companies notified Brazil's National Petroleum Agency,
or ANP, that traces of natural gas were found at the BM-S-4 block.
Eni Oil do Brasil S.A. is lead operator of the block with a 50%
stake, while Vale holds the remaining 50%.
The find was made at the 3ENI8RJS well, which was drilled by the
Ocean Quest rig. ANP drilling data showed a target depth of 6,080
meters for the well. The two companies previously announced a
natural gas discovery at the same well in late July.
Oil companies operating in Brazil must inform the ANP of
indications of oil, gas or hydrocarbons in any exploratory well
within 48 hours. The disclosures are routine and don't indicate
commercial viability.
-By Jeff Fick, Dow Jones Newswires; 55-21-2586-6085;
jeff.fick@dowjones.com