The pre-salt Iracema area was discovered in 2008 and is located in the Santos basin's block BM-S-11. Petrobras holds a 65% operating stake while Galp Energía (10%) and BG Group (25%) share the balance. The consortium aims to connect 16 production wells to a floating, production storage and offloading (FPSO) unit by 2015, with output expected to reach up to 150,000b/d oil and 8Mm3/d gas.