Maersk Oil Brasil and partner OGX reported finding oil in the ongoing Carambola B exploration well. The well is located in the BM-C-37 license in the Campos Basin in 130 metres water depth, some 80 kilometers off the coast of the state of Rio de Janeiro. Maersk Oil is the operator and has a 50% share of the block.

Hydrocarbons were encountered in the objective Albian carbonates (preliminary estimate of up to 17 meters of potential net pay) and an extensive logging programme including coring, pressure measurements and hydrocarbon sampling was performed. Further work is now required to assess productivity.

Bruce Laws, President of Maersk Oil Houston, comments, "Results of the Carambola B well will be integrated with the Carambola A results announced early January 2011. This exercise will help us assess the commercial potential of the oil contained in complex carbonate reservoirs.'

Drilling is still ongoing towards a planned 3,000 metres depth below sea level.

Tags: Maersk Oil, OGX Petróleo e Gás Participações S.A.