Through the drilling of an exploration well in 2008, it was possible to confirm the existence of hydrocarbons in the Iara area. Since then, the exploration and appraisal activities carried out by the consortium have confirmed the reservoir’s excellent potential.
The EWT carried out in the Berbigão area in 2014, from June to December, allowed Galp to deepen its knowledge about the field and revealed wells productivity levels similar to those obtained in the Lula/Iracema project.
The development plan for the three distinct accumulations in the Iara area, within the BM-S-11 block and wwhich extend to the Iara surroundings area, was submitted to ANP in 2015, with the consortium awaiting approval by the Brazilian regulator.
Regarding the declaration of commerciality of the project, this was granted already in 2016.
The start of production in the area of Grande Iara is scheduled for late 2018 / early 2019, through a replicant unit to be allocated to the Berbigão/Sururu area.