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Oil and gas giant BG Group has started test drilling in the Iracema area of the BM-S-11 concession in the pre-salt Santos Basin off the coast of Brazil.
The floating production, storage and offloading vessel (FPSO) Cidade de So Vicente was connected to the RJS-647 well, in water depths of 2,212 metres, and will remain in the area for around half a year, gathering technical information on reservoir behaviour and oil flow in the sub-sea lines.
The well test is part of BG Group's fast-track development for its interests in the pre-salt Santos Basin discoveries and prospects. The information gathered will support the development of the final production system in the area, expected to be in operation by the end of 2014.
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BG Group has a 25% interest in block BM-S-11, with operator Petrobras holding 65% and Petrogal Brasil SA 10%.
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Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
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