Petrobras hits oil for second time this year in ultra-deep waters of Brazil’s Equatorial Margin

Brazilian state-owned oil and gas giant Petrobras has actually made an oil discovery at another well in the Equatorial Margin, which extends along the Brazilian coast from Rio Grande do Norte to Amapá.

Petrobras gotan operating licensefrom IBAMA in October 2023 to drill 2 oil and gas expedition wells in deep waters in the Potiguar Basin on the Brazilian Equatorial Margin. Under the very same ecological license, the business meant to drill the1-BRSA-1390-RNS (Anhangá) well in the POT-M-762 concession, situated 79 km off the coast of Rio Grande do Norte, beside the Pitu Oeste well.

The drilling of the Anhangá well with the 2012-built NS-42 drillship has actually led to the discovery of an oil build-up situated near the border in between Ceará and Rio Grande do Norte, about 190 km from Fortaleza and 250 km from Natal, at a water depth of 2,196 meters, on the Brazilian Equatorial Margin. The discovery of Albian-age turbidite tanks bring oil was made through electrical profiles and oil samples, which are anticipated to be defined through lab analysis.

According to Petrobras, this is the 2nd discovery in the Potiguar Basin in 2024, preceded by evidence of the existence of hydrocarbons in the Pitu Oeste Well, situated in the BM-POT-17 concession, around 24 km from Anhangá. Both discoveries need more evaluation. To this end, the Brazilian company is using geological and geophysical technological options. The business will continue its exploratory activities in the POT-M-762_R15 concession, intending to evaluate the tanks’ quality, the oil’s attributes, and the technical-commercial practicality of the build-up.

Jean Paul PratesCEO of Petrobras, commented:“The business has a performance history of practically 3,000 wells drilled in deep and ultra-deepwater environments, with no type of event or effect on the environment, which, integrated with the technical capability and experience built up over nearly 70 years, makes it possible for the business to open brand-new frontiers and manage its operations in the Equatorial Margin with overall security.”

The company highlights that its exploratory activities in the Equatorial Margin represent another action in its dedication to renewing reserves and establishing brand-new exploratory frontiers to guarantee that worldwide energy need is fulfilled throughout the energy shift. Aside from the activities in the Brazilian Equatorial Margin, the Brazilian energy heavyweight gotten brand-new blocks in the Pelotas Basin in southern Brazil and stakes in 3 exploratory obstructs in São Tomé and Príncipe, a nation on the west coast of Africa.

Petrobras is encouraged that the exploratory success in Guyana and Suriname verifies the value of its project in the Brazilian Equatorial Margin Basins, as set out in its Strategic Plan 2024-2028which requires a financial investment of $3.1 billion for oil and gas expedition in this location, where the business prepares to drill 16 wells throughout the duration. The company plans to invest $7.5 billion in expedition by 2028 to drill 50 brand-new exploratory wells.

Joelson MendesPetrobras’ Exploration and Production Director, mentioned: “With the advance of exploratory research study in Brazil’s Equatorial Margin, we have actually increased our understanding of this area, thought about to be a brand-new and appealing frontier in ultra-deep waters, which will be basic for the business’s future, ensuring the supply of oil required for the nation’s advancement.”

Throughout the next 5 years, oil and gas are anticipated to be offered the most significant piece of Petrobras’ $102 billion financial investment pie while $11.5 billion is allocated for tasks that will allow a decrease in carbon footprint. The factor behind the high financial investment in nonrenewable fuel sources depends on the truth that Brazil sees brand-new oil and gas reserves as tactical and vital for ensuring nationwide energy security and sovereignty in the context of the simply energy shift.

Petrobras highlighted: “The opening of this brand-new frontier is likewise in line with the business’s tactical pillar of taking full advantage of the portfolio’s worth by concentrating on lucrative possessions, renewing oil and gas reserves, increasing the supply of gas, and promoting the decarbonization of operations.

“If Brazil preserves oil need at present levels and no brand-new reserves are included, the nation might end up being an oil importer; for this reason the significance of energy diversity, ensuring both oil supply and financial investments in brand-new low-carbon energies.”