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"The first well drilled showed oil, but we need to drill other wells," he said.
"We are assessing what needs to be done to evaluate the find," he said.
Zelada would neither confirm nor deny comments made Monday by Haroldo Lima, the head of Brazil's National Petroleum Agency, or ANP, that the new discovery could contain reserves of up to 33 billion barrels of oil equivalent, or BOE.
"There's nothing concrete in those estimates," Petrobras Exploration Director Guilherme Estrella Tuesday told a Senate commission in
Zelada said the new oil find is within the BM-S-9 exploration block. He added that
There was some confusion as to which find
There was also confusion as to whether the find extended beyond the BM-S-9 block.
In a report issued Monday, Credit Suisse said Sugar Loaf is one large structure that contains all four blocks, while Carioca is one oil find within that structure, next to other finds.
Credit Suisse, however, cautioned that drilling in the Sugar Loaf area "has been very limited to date," and said that therefore markets may have overreacted to Lima's comments.
"We currently include 15 billion BOE of Blue Sky resource in our estimates for the licensed part of Sugar Loaf," the report said, adding that around 40% of the estimated area is still unlicensed.
The BM-S-9 block is operated by
A spokesman for BG Group declined to comment on the size of the reserves in the Carioca find. He said stakeholders in the field would be putting together a plan to evaluate the size of the resources in Carioca in the next few days.
Both BG's and
The BM-S-8 block is operated by
The BM-S-21 block is operated by
Zelada also said Tuesday that if massive discoveries in Brazil's promising pre-salt area were to be confirmed, the company may have to shift resources away from overseas operations into
In November, the company said it estimated recoverable reserves at its Tupi field in the pre-salt area of up to 8 billion barrels of oil equivalent.
Reserves for the entire pre-salt area are much larger than the Tupi field, and could put
(END) Dow Jones Newswires
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