Petrobras discovers oil in ultra-deep waters of Potiguar Basin

This marks the second discovery in the Potiguar Basin in 2024, following the Pitu Oeste Well, which is 24km from Anhangá.

Petrobras has announced the discovery of oil deposits in the ultra-deep waters of the Potiguar Basin in Brazil’s Equatorial Margin.

The find was made at the Anhangá well between the coastlines of Ceará and Rio Grande do Norte.

Drilled in the POT-M-762_R15 concession, the Anhangá well is approximately 190km from Fortaleza and 250km from Natal, with a water depth of 2,196m. This marks the second discovery in the Potiguar Basin in 2024, following the Pitu Oeste Well in the BM-POT-17 concession, which is 24km from Anhangá.

Petrobras, which operates both concessions and holds a 100% stake, has indicated that these discoveries necessitate further evaluation.

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The company has confirmed the presence of oil-bearing Albian-age turbidite reservoirs through electrical profiles and oil samples, which will undergo laboratory analysis.

The company plans to continue exploratory activities in the POTM-762_R15 concession to assess reservoir quality, oil characteristics and the technical-commercial viability of the accumulation.

The Potiguar Basin is part of the Equatorial Margin, a region in northern Brazil that Petrobras considers the most promising frontier for oil and gas exploration.

Petrobras has committed to investing $7.5bn (37.57bn reais) in exploration by 2028, with $3.1bn earmarked for the Equatorial Margin.

The company’s strategy includes drilling 50 new exploratory wells, 16 of which will be in the Equatorial Margin area.

In other Brazilian oil and gas industry news, Bloomberg reported that EIG Global Energy Partners is exploring 20 potential deals in Brazil following its acquisition of offshore oil equipment contractor Ocyan.

According to EIG’s head, Flavio Valle, EIG, based in Washington, DC, is targeting acquisitions in renewable energy and midstream oil sectors in the Latin American nation.

Additionally, EIG is contemplating the sale of its 76% stake in Prumo Logistica, which includes Porto do Acu Operacoes, a key oil and natural gas port in Rio de Janeiro state.