BG Group finds new oil field offshore Brazil

BG Group has announced the discovery of a new oil field in the Santos Basin, offshore Brazil. The discovery, known as Carioca, is within the BM-S-9 concession, where BG Group holds a 30 per cent interest along with operator Petrobras (45 per cent) and Repsol YPF Brasil S.A. (25 per cent).

The Carioca oil field is located in 2 140 metres of water approximately 273 kilometres off the south coast of Rio de Janeiro. It is close to the Tupi discovery in Block BM-S-11 (BG Group 25%) which was announced in October 2006.

The exploration well flowed at a rate of approximately 2 900 barrels of 27 degrees API oil and 57 thousand cubic meters of gas per day. The rate was constrained by test equipment.

In addition to Block BM-S-9, BG Group has interests in a further six concessions in the Santos Basin - BM-S-10, 11, 13, 47, 50 and 52 - covering a total area of 8 130 square kilometres.