OIL AND GAS JOURNAL

Brazil reports oil, gas finds in Potiguar basin

LOS ANGELES, Feb. 4 -- Brazil's Petroleo Brasilerio SA (Petrobras) told the country's hydrocarbons regulator Agencia Nacional do Petroleo (ANP) that it found traces of oil in test wells drilled at two exploration blocks in the Potiguar basin.

ANP said the discoveries were made at well 3-BRSA-695RN on Block POT-T-520, and at well 3-BRSA-700DRN on Block BT-POT-8, both offshore Brazil's Rio Grande do Norte state.

Petrobras, which reported the finds on Feb. 3, holds 100% stakes in both blocks.

The announcement coincided with earlier reports by ANP that Galp Energia and Petrobras also discovered signs of oil and gas in the Potiguar basin as well as the Sergipe-Alagoas basin.

ANP Feb. 2 said that Galp Energia found traces of hydrocarbons in onshore well 1-GALP-26RN on Potiguar's POT-T-354 Block in addition to signs of oil and gas in an onshore well on Sergipe-Alagoas' SEAL-T-412 Block. Galp operates both blocks with a 50% stake, while Petrobras holds the remaining 50%.

Last month, Petrobras and its partner Starfish Oil & Gas SA declared a natural gas find at Well 1-STAR-BRN on Block POT-T-794 onshore, also in the Potiguar basin.