The discovery was made in the exploratory well 3-PRM-12-SES, drilled in the far north of the Piranema concession area, some 28km off the coast of the state of Sergipe, in water depth of 800mt and total depth of 2693mt.

The company said that the preliminary analysis indicates the presence of light oil (44° API), in reservoirs of a good quality (thickness, permeability and porosity). Further analysis will be developed for a better understanding of the reservoir as well as a drilling of a second production well.

The company is analyzing the possibility of connecting well 3-PRM-12-SES to the production platform that is already operating in the Piranema field.

The company further added that this discovery in Piranema, like the new discoveries confirmed in Pampo and Barracuda fields in 2010, is a result of the company’s exploration strategy of stepping up efforts in the vicinity area of the fields that are already in production (Planoleo), taking advantage of the existing infrastructure to implement profitable projects at lower cost and reduced time from the discovery to the production.