Brazil’s Petrobras announced the successful completion of drilling at the Pitu Oeste exploratory well in the Potiguar basin, located in the Equatorial Margin. It is one of five promising offshore regions that Petrobras aims to investigate as part of its strategy to expand oil production in Brazil.
Petrobras said that the Pitu Oeste well, situated 52 kilometers (km) off the coast of Rio Grande do Norte in deep waters, has provided “valuable data regarding the presence of hydrocarbons”. However, Petrobras said a conclusive assessment of economic viability is pending further analysis.
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Petrobras outlined plans for the second drilling expedition in the Potiguar basin.
Scheduled for February, the Anhangá well in the POT-M-762 concession, positioned 79 km off the coast of Rio Grande do Norte and close to the Pitu Oeste well, is expected to be a key focus for the Brazilian state company.
Petrobras said that complementary studies will be conducted to gather additional geological information, enabling it to comprehensively assess the reservoirs’ potential and guide future exploratory activities in the region.
“Our strategic approach involves a meticulous evaluation of data to make informed decisions about the area’s resource potential,” Petrobras said.
Petrobras said it views the Equatorial Margin as a significant opportunity for oil exploration in Brazil, likening its potential reserves to the multibillion-barrel discoveries being developed by ExxonMobil in neighboring Guyana.
Earlier this year, Petrobras faced a setback when Ibama blocked its plans to drill in block FZA-M-59 within the Foz do Amazonas basin, citing social and environmental concerns. In response, Petrobras chose to seek a license for exploration in the Potiguar basin as an alternative while awaiting the outcome of an appeal for the Foz do Amazonas project.
