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Petrobras confirms Jupiter pay

An appraisal well drilled by Petrobras has confirmed a continuous reservoir at the Brazilian giant's high-profile Jupiter pre-salt prospect in the Santos basin.

Preliminary drilling results of the 3-BRSA-967A-RJS, also known as Jupiter North-East, has detected a 176-metre petroleum column in rocks "of excellent permeability and porosity", the company said in a statement on Wednesday.

The well is located about seven kilometres from the original Jupiter discovery well, 1-BRSA-559A, drilled in 2008.

The appraisal well, which is still being drilled, "confirms the presence of natural gas and condensate, as well as the presence of a continuous reservoir between the two wells," Petrobras said.

Jupiter North-East has so far reached a depth 5438 meters. It lies in block BM-S-24 in waters 2161 meters deep about 275 kilometres off the coast of Rio de Janeiro, making it one of the farthest-offshore pre-salt projects.

Petrobras said it would "continue targeting deeper objectives" as the well progresses. The original Jupiter probe was drilled to a final depth of about 5200 metres.

The state-controlled company operates the well with and 80% interest, with Galp Energia holding the remaining 20%.