Brazil’s Petrobras confirmed the extension of its Farfan discovery Tuesday in the ultra deepwater Sergipe Basin after a third appraisal well encountered a light oil pay zone.
The well, called 3-SES-186, found an additional 223 foot column of light oil in a new shallower reservoir, Petrobras said.
Well 3-SES-186 is located about six miles from the first Farfan discovery in water depths of 8,093 feet.
Drilling at the well is ongoing until it reaches its target depth of 19,881 feet.
The accumulation is part of a larger exploratory project in the Sergipe-Alagoas Basin.
Petrobras operates the well with a 60 percent stake and IBV-Brazil, a joint venture formed between India-based Bharat Petroresources and Videocon Industries, holds a 40 percent stake.
IBV-Brazil will continue carrying out the discovery assessment plan for the Farfan discovery as approved by Brazil’s National Petroleum, Natural Gas and Biofuels Agency.