Petrobras has confirmed the extension of the light oil and gas discovery, as announced to the market on August 9, 2013, by drilling the third extension well in ultra-deep waters of Sergipe Basin’s Farfan area.

Drilling activities have also detected the presence of a new, shallower, 68-meter thick light oil-bearing reservoir.

Well 3-SES-186 (Petrobras nomenclature) / 3-BRSA-1286-SES (ANP nomenclature) is located 103 km from the city of Aracaju and 10 km from discovery well, at a water depth of 2,467 meters. Well drilling is set to continue until reaching the total depth of 6,060 meters.

This accumulation is part of the Sergipe-Alagoas Basin ultra-deep water exploratory project, as provided for in the 2014-2018 Business and Management Plan.

Petrobras, the consortium operator (60%) in partnership with IBV-BRASIL (40%), will proceed with the activities outlined in the Discovery Evaluation Plan (DEP), as approved by Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP).