MADRID, 26 Repsol Sinopec has made with its partners in Brazil's Petrobras and Britain's BG a discovery of oil in good quality ultra-deepwater Santos Basin in Brazil's subsalt, the oil company announced in a statement. The finding has occurred in block BM-S-9, 275 kilometers off the coast of Sao Paulo, in the area of well Carioca, one of the key exploration projects of the company.
Preliminary tests show the existence of a reservoir of 200 m, with high quality oil. The company Repsol is partic Sinopec by 60% by the Spanish oil and 40% by China, and the discovery announced today holds 25% of the consortium discovered, along with BG (30%) and Petrobras, which 45% acts as operator.
In the BM-S-9 have been some of the most important discoveries in the world, as a hideout, or Abare West Falls. It consists of the assessment areas Guara and Carioca, which is located the new discovery. Indeed, Guara and Carioca are two important projects identified by Repsol as key to company growth.
The consortium will continue with the planned investment in the Discovery Assessment Plan submitted to the Brazilian National Petroleum Agency (ANP) in 2007 with the aim of confirming the size and characteristics of the discovery and further develop the project and its activities in the pre-salt Santos Basin.
REPSOL IN BRAZIL. Repsol has in Brazil with a portfolio that includes a productive field (Albacore Leste), a block in development (BM-S-7), two pilot projects planned (Guara and Carioca) and fourteen high-potential exploration blocks. The company closed at the end of the year an agreement with Sinopec to jointly develop exploration and production projects that the country has set up a company with a value of 17.773 million dollars (13,260 million euros). 
Preliminary tests show the existence of a reservoir of 200 m, with high quality oil. The company Repsol is partic Sinopec by 60% by the Spanish oil and 40% by China, and the discovery announced today holds 25% of the consortium discovered, along with BG (30%) and Petrobras, which 45% acts as operator.
In the BM-S-9 have been some of the most important discoveries in the world, as a hideout, or Abare West Falls. It consists of the assessment areas Guara and Carioca, which is located the new discovery. Indeed, Guara and Carioca are two important projects identified by Repsol as key to company growth.
The consortium will continue with the planned investment in the Discovery Assessment Plan submitted to the Brazilian National Petroleum Agency (ANP) in 2007 with the aim of confirming the size and characteristics of the discovery and further develop the project and its activities in the pre-salt Santos Basin.
REPSOL IN BRAZIL. Repsol has in Brazil with a portfolio that includes a productive field (Albacore Leste), a block in development (BM-S-7), two pilot projects planned (Guara and Carioca) and fourteen high-potential exploration blocks. The company closed at the end of the year an agreement with Sinopec to jointly develop exploration and production projects that the country has set up a company with a value of 17.773 million dollars (13,260 million euros).
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