Oil & Gas

10 Apr 2024

Brazil's Petrobras Discovers Oil Deposits in Ultra-Deep Waters of Potiguar Basin

10 Apr 2024  by reuters   
Brazil's state-run oil company Petrobras said on Tuesday it has discovered oil deposits in the ultra-deep waters of the Potiguar basin, in the Equatorial Margin.

This is the second well in Potiguar where the firm has found hydrocarbons. Both finds are still subject to further studies, Petrobras said.

Potiguar is located in the so-called Equatorial Margin, an extensive area in northern Brazil that is seen as the most promising frontier for oil and gas exploration for Petrobras.

The discovery was made near the border between the northeastern states of Ceara and Rio Grande do Norte, at a depth of 2,196 meters, the company said.

Petrobras plans to drill 16 wells in the Equatorial Margin in five years, but Brazilian environmental regulator Ibama, whose workers are striking, has been slow to issue new permits, delaying exploration projects.


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