BG Group (25%) and partners Petrobras (65% and operator) and GALP (10%) have completed two drill stem tests on the Iracema well in the BM-S-11 appraisal area in the Santos Basin pre-salt, offshore Brazil.

DSTs were carried out over two zones with aggregate production amounting to 10,500 barrels oil per day of light 32° API oil and 17 million standard cubic feet per day (mmscfd) of gas.

The Iracema appraisal well has confirmed the presence of an excellent quality light oil bearing reservoir, 33 kilometres north-west of the original Tupi discovery well

The well in-flow performance recorded during the tests was the highest so far achieved in BG Group's Santos Basin interests.

Ultimately, development well flow rates of up to 50,000 barrels oil equivalent per day (boepd) are anticipated.

These rates being constrained by production facilities rather than reservoir performance.

Story provided by Business Financial Newswire