Petrobras and CNPC completed their first deep-sea oil exploration in the Santos Basin

The Chinese National Oil Corporation (CNPC) discovered large reserves of oil and gas at Gura-1 well in the Aram block in Brazil.

The discovery, announced jointly with the Brazilian oil and gas giant Petrobras, is located 240 km from the city of Santos at a depth of 1905 m. The discovery lays the foundation for further exploration and assessment, confirming the resource potential of the unit and development prospects. Both sides will continue to drill the well to the expected depth and to verify the extent of the new opening as well as the condition of the tanks.

CNPC entered Brazil’s deepwater oil and gas market in 2013, winning a tender for the Libra project in the Santos Basin. Currently, CNPC manages 3 ultra-deep joint projects, Libra project, Buzios project and Aram Risk exploration unit.