The Tiro and Sidon deposits were discovered in July and September 2009, respectively, and are located in exploratory block BM-S-40 (100% Petrobras), in the south area of the Santos Basin, about 210km off the coast. The deposits are located in shallow waters, in the post-salt region, at a depth of 2100 mt and at some 250mt from the water line.
The volume of recoverable oil has been estimated at 150 million barrels of oil equivalent. Early results indicate the presence of good quality oil. The production of the EWT, estimated at 10,000bpd, will be stored initially in FSO Avare and then transported to the mainland on shuttle tankers.
The Tiro and Sidon EWT will be carried out in two stages. The first stage will be the production in well 1-SPS-56, in the Tiro accumulation, for a period of 12 months and the second one will be the testing at well 1-SPS-57, in the Sidon area, for an equal period.
Exploratory activities in the region still includes the drilling of the well SCS-13, located east of Tyre and Sidon, at block BM-S-12, over the second quarter of 2010. Drilling activity already performed in this well indicated the presence of hydrocarbons and potential in the pre-salt area, which is the objective of this new drilling. The results are expected for the second half, the company said.
According to Petrobras, the results of the EWT of Tiro and Sidon added to the evaluation of nearby fields, such as Cavalo Marinho, Caravela, and Estrela do Mar, will be important to define both the future development of the discoveries made in the Southern Pole of the Santos Basin and the feasibility of installing an integrated production system in the region.
