Brazil’s state-run oil company Petroleo Brasileiro S.A. completed drilling of the first extension well in the massive Libra field off the coast of Rio de Janeiro, confirming good quality oil, according to a filing on Monday.
Petrobras, as the company is known, said the well reached a depth of 5,734 meters and is located 4 km from the original discovery well. The oil density was confirmed at 27 degrees on the American Petroleum Institute scale and drilling found a column of hydrocarbons 290 meters (950 feet)in depth in a porous and permeable substratum.
Petrobras is the operator in the field with 40 percent stake, along with partners Royal-Dutch Shell and France’s Total each with 20 percent. China National Petroleum Corp and CNOOC Ltd hold 10 percent stakes each.