BG raises production estimate on Carioca discovery
Oil and gas firm BG Group has raised its estimate of potential production from its Carioca discovery, off the coast of Brazil, after an extended well test.
Oil and gas firm BG Group has raised its estimate of potential production from its Carioca discovery, off the coast of Brazil, after an extended well test.
After testing on well 3-SPS-74 (Carioca Nordeste), potential production has been raised to around 28,000 barrels of oil per day (bopd). The well is currently producing 23,400 bopd.
The company said the potential of the Carioca area was further underlined by results from the 4-BRSA-973A-SPS well, informally known as Abar, located 35 kilometres south of the discovery well 1-BRSA-491-SPS (Carioca) and 293 kilometres off the coast of So Paulo state.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Wireline samples showed good quality oil at Abar. A drill stem formation test is planned to evaluate the productivity of the interval.
Five wells have now been drilled in the Carioca area in addition to the completion of two formation tests. This fulfils the evaluation commitments required by the National Agency for Petroleum, Natural Gas and Biofuels (ANP).
Given the promising results at Carioca, the consortium intends to do more appraisal work to further evaluate the area's full potential.
BG Group has a 30% interest in Block BM-S-9 which is comprised of two appraisal areas - Guar and Carioca.
--
jh
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.
-
1,000 children hold over £100,000 in a junior ISA – how to grow tax-free nest egg for your child
Junior ISAs can be a tax-efficient way to grow a nest egg for your child. We explain how they work
-
How to start investing: a beginner’s guide
Getting started in investing is a great way to make your money work harder for you over the long term, as investments tend to outperform cash savings