Petrobras has identified hydrocarbons in a deepwater exploratory well off the coast of Amapá in northern Brazil, the company announced on Friday.
The discovery is Petrobras’s first in the area and was made at the Morpho well in the FZA-M-59 block in the Foz do Amazonas Basin on Brazil’s Equatorial Margin. The well is around 175 kilometres off the coast of Amapá in a water depth of 2,886 metres.
“Our optimism regarding the Brazilian Equatorial Margin is confirmed today. This first discovery off the coast of Amapá is the result of Petrobras’ dedication and expertise, and the company remains committed to replenishing oil reserves and ensuring the country’s energy security,” said Petrobras president Magda Chambriard.
The hydrocarbons-bearing interval was identified through electrical logging and indications in the rock. Drilling remains under way as Petrobras continues its exploratory assessment.
Petrobras operates FZA-M-59 with a 100% interest after it acquired the block in Brazil’s 11th ANP licensing round in 2013 under a concession regime. The company considers the Equatorial Margin a key exploration frontier for replenishing Brazil’s oil and gas reserves, and its 2026-2030 business plan envisages USD 2.5 billion of investment and the drilling of 15 wells in the region.