Brazilian oil company Petrobras has said it has identified the presence of hydrocarbons in a pioneer well in the Aram block, in the Santos Basin pre-salt, offshore Brazil.

The well 1-BRSA-1381-SPS (Curaçao) is located 240 km from the city of Santos, in Brazil’s São Paulo state, at a water depth of 1,905 meters.

“The oil-bearing interval was verified through wireline logging and fluid samples, which will be further characterized through laboratory analysis. This data will allow evaluating the potential and directing the next exploratory activities in the area,” Petrobras said.

The Aram block was acquired in March 2020, in the 6th Bidding Round of the National Agency for Petroleum, Natural Gas and Biofuels (ANP), under the Production Sharing regime, with Pre-Sal Petróleo S.A. (PPSA) as manager. Petrobras is the operator of the block and holds an 80% share, in partnership with CNODC (20%).

 “The consortium will continue operations to complete the project to drill the well to the expected depth and verify the extent of the new discovery, in addition to characterizing the conditions of the reservoirs found,” Petrobras said.

“The drilling of the Curaçao well demonstrates the success of a strategy strongly based on technological innovations, with maximum use of processed data in real-time, allowing for quick and safe decision-making,” the company added.

Capex increase

Reuters said Thursday, citing unnamed sources, that Petrobras could commit between $60 billion and $70 billion in capital expenditure (capex) in its next multi-year business plan, raising the capex from the current $55 billion of the 2021-2025 program.

Petrobras on Friday issued a statement reacting to the report and acknowledging that the value mentioned roughly corresponds to its plans currently being analyzed by the board.

“The company informs that the values mentioned in the articles are close to the values of the studies assessed by the Executive Board. However, the Strategic Plan is still being analyzed by the Board of Directors, the competent body for its approval, and it is not possible to confirm, at this time, the investment values that will be fixed for the period 2022-2026. The company emphasizes that the values of the 2022-26 Strategic Plan need to be taken into account in the context of the plan as a whole,” Petrobras said.

According to Reuters, the 2022-2026 Petrobras plan is set to be released on November 25.

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