Brazil’s Petrobras said Wednesday that it has confirmed a “high quality” oil pay zone at its first appraisal well in the offshore Brazil Libra block.
Drilling results confirmed the presence of an oil column of around 951 feet and “high quality” reservoirs with 27º API crude.
Two production tests were carried out in two different zones and confirmed the “excellent” productivity and quality of the oil found in the reservoirs, Petrobras said.
The well is located in the northwest section of the Libra block in the Santos Basin pre-salt play, about 2.5 miles from the discovery well 2-ANP-2A-RJS.
The Libra block is expected to start commercial production in 2020.
The block holds estimated reserves of 12 billion barrels of recoverable crude.
Petrobras has a 40 percent operating stake in the Libra consortium.
Royal Dutch Shell holds a 20 percent stake, France’s Total holds a 20 percent, China’s CNPC holds a 10 percent and CNOOC holds a 10 percent stake.