Dear Mr/Mrs Ramin Farzanehfar,
Rio de Janeiro, June 8, 2012 – Petróleo Brasileiro S.A.
– Petrobras announces the discovery of good quality oil in the third well drilled in the Transfer of Rights area, located in the area known as Sul de Guará, in the pre-salt of Santos Basin.
According to the contract, at this area Petrobras has the right to produce up to 319 million barrels of oil equivalent.
This discovery well, 1-BRSA-1045-SPS (1-SPS-96), is located in the southern portion of Sapinhoá Field, at a water depth of 2,202 meters, and is 320 km off the coast of the State of São Paulo.
The discovery was confirmed through good quality oil sample (about 27º API), using cable tests, obtained from carbonate reservoirs located below the salt layer.
The well is currently being drilled to a depth of 5,058 meters, in order to determine the lower limit of the reservoir.
After drilling is completed, a formation test will be conducted to evaluate the productivity of the oil reservoirs, as per the activities and investments set out in the Exploratory Program of the Transfer of Rights Contract.
Sincerely,
Investor Relations.
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A.
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