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[BUSINESS] · Brazil · 8 sources

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Petrobras confirms oil discovery in Amapá ultra-deep waters

Petrobras has confirmed the discovery of oil in the Morpho well, located in the Foz do Amazonas basin. The well is situated in ultra-deep waters at a depth of 2,886 meters, approximately 175 kilometers off the coast of Amapá.

While the discovery confirms the geological potential of Brazil’s Equatorial Margin, the exact volume of the reserves and the commercial viability of the field remain undetermined. Petrobras officials stated that drilling is expected to be completed within 15 to 20 days, after which a delimitation phase will begin to measure the extent of the reservoir.

President Luiz Inácio Lula da Silva and Petrobras CEO Magda Chambriard described the find as a strategic step for Brazil’s energy sovereignty. Chambriard noted that if the scale of the reservoir is significant, production in the Amapá region could potentially begin within six to seven years. The exploratory campaign in the region has cost approximately US$ 3 billion to date.

Entities

Amapá · Foz do Amazonas · Foz do Amazonas Basin · IBAMA · Luiz Inácio Lula da Silva · Magda Chambriard · Petrobras

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