THE Petroreconcavo (RECV3) reported this Friday that it had notified the regulator ANP on the discovery of hydrocarbons in Exploratory Block POT-T-702, in the Potiguar Basin, acquired in the agency’s 2nd Permanent Offer Round.
In a statement released to the market, the oil company said that the drilling of the first well in the Exploratory Block reached the final depth of 659 meters, “noting the existence of the target formation with the presence of hydrocarbons”.
The company’s next steps will be formation tests and other studies, with the objective of evaluating the dimensions of the hydrocarbon accumulation and its eventual production potential.
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Source: Moneytimes
I am a journalist with over 6 years of experience working in the news industry. I currently work as an author for Global Happenings, and my coverage focuses on Technology news. I have written for various publications, including Reuters, The New York Times and The Guardian.
