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 meter of water. The well will be drilled to 6,060 meters. 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.
68 metre thickness
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.
