Vipetro finds traces of oil onshore Espírito Santos basin

Thursday, October 29, 2009

Brazilian independent oil company Vipetro has discovered signs of oil at an onshore well in the Espírito Santos basin, oil and gas regulator ANP reported.

The discovery was made on block ES-T-391 at well 1VITA7ES. Vipetro is using the SAT-2600 rig on the well, which it is due to be drilled to a depth of 1,267m, according to a separate ANP filing.

Vipetro operates the block with a 100% stake.

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The find was the second for Vipetro in the ES-T-391 block this year. In September, Vipetro said it discovered oil at the 1VITA6ES well on the same block.

Companies are obligated by law to inform ANP of any potential oil discoveries. The routine notifications are not an indication of potential reserves or if commerciality could ever be declared.