Petrobras Makes Thickest Ever Oil Discovery In Brazil History

Petrobras Makes Thickest Ever Oil Discovery In Brazil History
Petrobras has made an oil discovery in the co-participated area of Sepia offshore Brazil.

Brazilian oil and gas major Petrobras has made an oil discovery in the co-participated area of Sépia offshore Brazil.

TotalEnergies, Petrobras’ partner in the block, said that the well was drilled at a water depth of approximately 2,200 meters. The net thickness of the well’s oil column is one of the highest ever recorded in Brazil. Operations to characterize the reservoir and measure the extent of the discovery are ongoing.

“This is excellent news, just a few months after concluding our entry into the world-class Sépia field in Brazil, where we are already benefitting from the production performance from the first FPSO.”

“The resources confirmed by the Pedunculo well appear to exceed pre-drill expectations and add to the potential for future development of the area. Thanks to their exceptional productivity and the innovative technologies used in their developments, these resources fully fit in TotalEnergies’ low-cost, low-emission oil portfolio,” said David Mendelson, SVP for the Americas at TotalEnergies Exploration & Production.

The Sépia ToR surplus block was purchased by a consortium comprising Petrobras as the operator with a 30 percent interest and its partners – TotalEnergies which holds 28 percent, QatarEnergy holding 21 percent, and Petronas which holds the remaining 21 percent. Pre-Sal Petróleo is the manager.

The Sépia Co-participated Area is operated by Petrobras, with a stake of 51.9 percent. TotalEnergies holds 19.2 percent net interest, alongside QatarEnergy and Petronas with 14.4 percent each. The Sépia shared reservoir is currently producing 170,000 barrels of oil per day.

In a separate announcement, the Brazilian giant explained that the oil-bearing interval was verified by means of electrical logs and fluid samples, which laboratory analyses will further characterize.

As outlined by the company, the Sépia co-participated area is composed of the Sépia block, acquired by Petrobras through the transfer of rights contract, signed with the Brazilian government in 2010, and by the Sépia ToR surplus block, acquired in December 2021, in the 2nd transfer-of-rights production sharing auction realized by the National Agency for Petroleum, Natural Gas, and Biofuels (ANP).

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