BG Group makes find in Brazil

BRASILIA, Brazil, Nov. 13 (UPI) -- BG Group announced it encountered medium crude oil at the Tupi Northeast well in Block BM-S-11 in a development off the coast of Brazil.

BG Group and its partners at Brazil's Petrobras, the operator, and Portugal's Galp drilled the well that encountered a carbonate reservoir that was roughly 800 feet thick, the company said.

The company classified the reserves as medium crude oil. The partnership in the offshore Santos Basin said the find reinforces estimates that the Tupi well holds between 5 billion and 8 billion barrels of oil equivalent of recoverable reserves.

The Tupi northeast well is located about 160 miles from Rio de Janeiro in a water depth of 6,900 feet.

The partners plan to continue with activities in the region under provisions approved by the Brazilian government. Drilling will continue at Tupi Northeast to evaluate productivity.