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New Well Reinforces Tupi Potential, Santos Basin, Brazil

BG Logo BG Group today confirmed that in the Santos Basin pre-salt, offshore Brazil, hydrocarbons had been encountered in a new well known as Tupi North-East (3-BRSA-755A-RJS or 3-RJS-662A) on block BM-S-11.

Tupi North-East is located in the Tupi evaluation area in a water depth of 2 115 metres, approximately 265 km from Rio de Janeiro. The well is 18 kilometres to the north-east of the Tupi discovery well (1-RJS-628 or 1-BRSA-369).

Partners Petrobras (65%, operator), BG Group (25%) and Galp (10%) drilled the well which penetrated an approximately 250 metre thick section of carbonate reservoirs. Wireline testing confirmed the presence of light oil at approximately 28 API.

This is a further successful appraisal well which reinforces the partners' estimates that the Tupi accumulation holds 5 - 8 billion barrels oil equivalent of recoverable reserves.

Drilling on Tupi North-East has been concluded and drill stem tests to evaluate reservoir productivity will be conducted over the next few weeks.

The partners will continue the activities and investments foreseen in the Evaluation Plan approved by the Brazilian National Petroleum Agency (ANP), including the drilling of further wells in the area.

Published 13/11/09

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