Repsol Says Offshore Brazil Gas Prospect Shows Strong Potential

The Brazilian unit of Spanish oil company Repsol SA said on Monday that a test of an offshore gas prospect it owns with Norwegian, Brazilian and Chinese partners confirmed the area's strong expected potential.

 

The unit, known as Repsol Sinopec, said the Pao de Acucar prospect in the BM-C-33 offshore block produced 15 million cubic feet of natural gas and 3,330 barrels of gas condensate a day during a test, whose output was limited by the equipment aboard the test platform.

 

BM-C-33 is 35 percent owned by Repsol Sinopec, which is 60 percent owned by Repsol and 40 percent by China's Sinopec . Repsol is also the operator. Norway's Statoil ASA (STOHF) owns 35 percent and Brazil's Petroleo Brasileiro SA , or Petrobras, owns 30 percent.

 

Located in 2,821 meters of water and drilled to a depth of 7,012 meters, the Pao de Acucar prospect is in the Campos Offshore basin about 200 kilometers southwest of Cabo Frio, Brazil.


(Reporting by Jeb Blount; Editing by Christian Plumb)