In September 2009, BG Group announced that the Guara discovery (BM-S-9), in the Santos basin, where BG Group has 30% is estimated to contain recoverable volumes of 1.1 to 2.0 billion BOE.
To speed up the necessary developments at Guará, all the partners have agreed that it will receive the second FPSO available for the pre-salt developments, with a capacity of 120 000 bopd. First production is targeted for 2012.
BG Group has also announced a new discovery known as Abaré West, which proved the presence of an accumulation of oil and natural gas. Abaré West is the fourth consecutive BM-S-9 discovery following Carioca, Guará and Iguaçu.
At the Tupi field (BM-S-11), where BG Group has 25%, many new developments have shown the fields´ high potencial.
At the Iracema well, 33 km north-west of the Tupi discovery well test data has been very positive, more testing is being done there to define its full potencial.
Tupi Sul has produced to date, more than 1 million BOE, with results exceeding expectations, showing excellent reservoir performance with good flow rates. The results confirm a very large volume of connected oil with very good lateral reservoir qualities.
At the Iara well, also in BM-S-11 the well tests confirmed a large presence of light oil, more tests are planned for the coming years to define the possible production quantity and viability.
The extensive work program that has been ongoing in 2009 has produced excellent results and confirms the economic potencial of the pre-salt fields, where the BG Group is a major player.
Much testing and development is still necessary to prove the full potencial of these fields and there is good potencial for new well developments along the blocks where BG has participation, with the companies outlook for the future being very positive.