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Brazilian start-up strikes Amazon gas find

21st August 2012

Brazilian oil startup HRT strikes natural gas in well in the remote Amazon jungle region

Brazilian start-up strikes Amazon gas f gas find
Despite HRT’s drilling successes in the Amazon, several questions remain as to how the company will efficiently transport these resources from the remote area to the markets

A Brazilian oil startup firm has discovered natural gas in a well located in a remote area of the Amazon marking “an historic event” in its drilling operations to date, the company said in a press release on Tuesday.

The subsidiary of HRT Participações em Petróleo SA, HRT O&G Exploração e Produção de Petróleo Ltda found natural gas at its 1-HRT-9-AM well in the Solimões Basin in the Amazon.

HRT found 30m-thick gas reservoirs at a depth of 2,740-2800m. Drilling operations began in June and lasted 60 days, a personal best for the firm, reaching a final depth of 2,960m. Tests will now be conducted to assess the recovery potential of the reservoirs.

“This well can undoubtedly be considered as the bearer of the best characteristics… in all of HRT’s previous drillings,” said HRT O&G CEO Milton Franke.

The success was only possible with the application of new technologies which will improve its drilling cost-efficiency, according to HRT.

"These are technologies which... allowed for significant increases in efficiency, as well as in penetration rates,... and an improvement to the well's quality," CEO Milton Franke told OGT. "The improvement measures included an engeneering project for the well...; designing new drills...; and the drilling fluid," he added.

The discovery has opened new exploration opportunities in the block SOL-T-191 area, HRT said. It follows three past discoveries in the wells 1-HRT-2-AM, 1-HRT-5-AM and 1-HRT-8-AM.

HRT holds a 55 per cent stake in 21 exploration concessions in the Solimões Basin, while TNK Brazil, a subsidiary of BP-Russian joint venture TNK-BP holds the remaining 45 per cent.

Despite HRT’s drilling successes in the Amazon, several questions remain as to how the company will efficiently transport these resources from the remote area to the markets.