Brazil's Petrobras finds new pre-salt oil, also to drill in Equatorial Margin

Petrobras said it has identified a new oil accumulation in the pre-salt of the Campos Basin after drilling an exploratory well in the Alto de Cabo Frio Central block.

The well, known as 1-BRSA-1383A-RJS, lies about 230 km offshore from Rio de Janeiro in water depth of 1,833 metres, Valor reported.

The company said hydrocarbons were confirmed through electric logs and fluid samples, with further laboratory analysis planned while drilling continues to total depth.

Petrobras said the finding reflects its exploration approach; “a successful strategy” based on the use of data and the application of artificial intelligence and big data solutions.

The block was awarded in 2017 during a bidding round held by oil and gas regulator ANP under a production-sharing model. Petrobras operates the area with a 50% stake, while BP Energy do Brasil holds the remaining share.

The discovery adds to ongoing exploration efforts in the Campos Basin, one of Brazil’s main offshore regions, as companies continue to assess reserves and production potential in pre-salt formations.

This comes as Petrobras has renewed an environmental licence to drill the Mãe de Ouro well in the Potiguar Basin, offshore Rio Grande do Norte state, allowing three wells to be explored in the area, the company said in a press relase.

The permit, issued by Ibama, covers the Mãe de Ouro, Inhame and Taianga wells in blocks BM-POT-17 and POT-M-762. The main well lies about 52 km offshore in waters deeper than 2,000 metres and is seen by Petrobras as a key prospect on the equatorial margin.

Authorities in Rio Grande do Norte said the company expects volumes that could support production. The project follows earlier drilling at the Anhangá and Pitu Oeste wells in the same basin, both included in the federal investment programme. 

Petrobras also said it will spend more than BRL1.5bn ($280mn) to decommission non-producing wells.

The Potiguar Basin forms part of the equatorial margin, which extends along the northern coast and is under early-stage exploration with potential oil reserves, according to ANP.

Environmental groups have raised concerns over offshore activity in the region, citing potential impacts on nearby ecosystems and coastal areas.