Rio de Janeiro – Brazilian oil giant Petrobras informed the National Petroleum, Natural Gas and Biofuel Agency (ANP) that Guará area, in Santos Basin, on the southeastern coast of Brazil, with reservoirs in the pre-salt layer, is commercially viable. This information was disclosed by the company through a press statement on Thursday night. Petrobras considers the new gigantic field one of the largest in Brazil.
According to the company, Guará area has estimated reserves of 2.1 billion barrels of 30° API oil (medium density), considered good quality. With the confirmation of commercial viability, the company may start producing oil at the site, after three years exploring the potential of the area.
When Petrobras declares an area commercially viable, it usually baptizes it with the name of a sea animal, as was the case with Tupi and Iracema areas, which, respectively, became Lula (squid) and Cernambi (yellow clam). Guará should become Sapinhoá field, in honour of a mangrove clam.
With Lula, Cernambi and Sapinhoá alone, the pre salt layer in Brazil’s Santos Basin already has estimated commercial reserves of over 10 billion barrels.
The confirmation of commercial viability was anticipated in one year. The block is operated by Petrobras (45%), in partnership with BG Group (30%) and Repsol Sinopec Brasil (25%).
*Translated by Mark Ament
