Petrobras delays Morpho well completion in Brazil's Foz do Amazonas

Petrobras has again postponed the final phase of drilling the Morpho well in the Foz do Amazonas block (FZA‑M‑59), now targeting the end of August to early September. The company attributes the delay to the strong marine currents that also caused a January leak, which previously forced a schedule shift and resulted in a R$2.5 million fine from IBAMA.

President Magda Chambriard emphasized a cautious approach, stating “Estamos indo com muito cuidado,” as the area represents a new frontier for deep‑water exploration. Petrobras also reported a record‑high production of about 3.4 million barrels of oil equivalent per day in the second quarter of 2026, up 14% year‑on‑year.