Petrobras announces the results of drilling of the 9-SES-188D Well located in concession BM-SEAL-11, SEAL-M-426 block in ultra-deep waters of the Sergipe Basin. The results confirm the discovery of light oil and gas in Farfan area (between 37 and 40 API), as announced to the market on August 9, 2013.

This drilling also presented a new light oil accumulation in the deepest reservoir, with 28 meters thickness and in good permoporosity conditions.

Located 107 km from the city of Aracaju, 5.7 km from the discovery well and in a water depth of 2492 meters, the well reached a final depth of 5900 meters and, at present, is under evaluation.

This accumulation falls within the scope of the Sergipe-Alagoas basin deep water development plan, in accordance with the Petrobras 2014-2018 Business and Management Plan.

The consortium will proceed with the Discovery Evaluation Plan (PAD), which is being approved by Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP).

Petrobras is the operator of the consortium (60%) in partnership with IBV-BRASIL (40%).

IBV Brasil is a Brazilian joint venture company equally held by Videocon Energy Brazil Limited, a wholly owned overseas subsidiary of Videocon and BPRL Ventures NV, a wholly owned subsidiary of Bharat Petroleum Corporation Limited , a Government of India majority held company.