Petrobras sees strong flow in offshore Guara well

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  • Posted on April 12, 2011


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    RIO DE JANEIRO, April 11 | Mon Apr 11, 2011 7:17pm EDT

    RIO DE JANEIRO, April 11 (Reuters) – Brazilian state oil company Petrobras (PETR4.SA) said on Monday a well in the offshore Guara field has a potential flow rate of 50,000 barrels per day, which the company called a sign of the high quality of the reservoir.

    The results from the well known as Guara Norte, located off the coast of Sao Paulo in 2,118 meters (6,949 feet) of water, were similar to those of another well in same area, Petrobras said.

    Guara holds between 1 billion and 2 billion barrels of oil, according to Petrobras estimates. It is being developed by a consortium including Petrobras, BG Group Plc (BG.L) and Spain’s Repsol (REP.MC). (Reporting by Brian Ellsworth; editing by Andre Grenon)

    Reuters/AC