LONDON -(Dow Jones)- Early data from the Iracema well drilled offshore Brazil in the prolific Santos oil basin look "very promising," BG Group PLC (BG.LN) Chief Executive Frank Chapman said Wednesday.
Well test results from the multi-billion-barrel Tupi oil discovery in the same basin are "a lot better than imagined," he said.
Pressure in the borehole has been maintained very well through the test and it appears that there are few barriers to oil flow in the area of the well, he said.
Company Web site: http://www.bg-group.com
-By James Herron, Dow Jones Newswires; +44 (0)20 7842 9317; james.herron@dowjones.com