A consortium of Videocon Industries, Bharat Petroleum
Corporation Ltd. (BPCL) and Brazilian state-owned company Petroleo
Brasileiro SA (Petrobras) has announced ‘significant’ discovery of oil,
off the coast of Brazil.
“The well 3-SES-186 was
drilled 103 km from the city of Aracaju, Brazil, and 10 km from the
discovery well in 2,467 metre of water. The well will be drilled to
6,060 metres. This accumulation is part of the exploratory project in
the deepwater Sergipe-Alagoas basin,” Videocon said.
Petrobras
operates the consortium with 60 per cent interest in partnership with
IBV-Brazil (an equal joint venture of Videocon Industries and BPCL),
which holds the remaining 40 per cent.
“The result
obtained in this well confirms the extension of the light oil reservoirs
previously discovered by the ‘Farfan’ discovery well.
In
addition, the well found presence of a new light oil accumulation with a
total thickness of 68 metres in shallower reservoirs,” Videocon added.
Videocon
Group Chairman V.N. Dhoot, when contacted, declined to comment on the
size of the discovery but said, ‘it’s naturally huge’.
“The
discovery of new hydrocarbon accumulations will further add to the
hydrocarbon resources already indicated in the said blocks.
The
large scale and volume and light oil discovery will enable one of the
lowest cost producing giant oil fields in the world,” Mr. Dhoot added.
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