Flows in the order of 7,000 barrels per day were observed during the test, limited to testing device capacity. This well’s initial production is expected to be some 50,000 barrels of oil per day.

With the result of this formation test, the Guará area will be prioritized to receive the production system which is currently up for bid for the Santos basin pre-salt. The tested well, 1-SPS-55 (1-BRSA-594), informally known as Guará, is located in an assessment area in block BM-S-9, at a depth of 2,141 meters from the waterline, some 310 kilometers (km) off the coast of the State of São Paulo and 55km southeast of well 1-RJS- 628A (1-BRSA-369A), known as Tupi.

The consortium, formed by Petrobras (45% – operator), BG Group plc (30%), and Repsol YPF S.A.(25%), will give continuity to the activities and investments that are required to assess the fields discovered in this area pursuant to the assessment plan approved by the NPA. A new well is foreseen to start being drilled in this assessment area late this year.