Brazil: Petro Rio Finds Oil in Maracanã Prospect Near Valente FPSO

File photo: SBM Offshore
File photo: SBM Offshore

Brazilian oil company Petro Rio said Tuesday it had found evidence of oil in the Maracanã prospect (3-PRIO-1-RJS well), which is located 6km southwest of Valente FPSO (ex-Frade FPSO).

The primary target (Eocene sandstone), presented a column of 36 meters of oil, with 28% porosity rock and original initial pressure.
Evidence of oil was also found in the secondary target (Miocene sandstone) with 29% porosity.

"Over the coming months, the company will carry out further technical studies on both targets and may decide to drill one more extension well, in order to outline the area and consequently the volume (VOIP) of the targets. If proven economically viable, these accumulations could lead to another development front in the Frade field.

Petro Rio said it had made the discovery "following the second phase of the revitalization of the Frade field."

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