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Petrobras begins drilling the Pitu Oeste well, on the Equatorial Margin – Brazilian oil company

Written by Paulo S. Nogueira
Published 23/12/2023 às 10:36
Updated 24/12/2023 às 06:04
Brazilian oil company, Petrobras
Photo: Foresea Collection – All rights: Petrobrás
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Search on Saturday (23/12) for a deepwater oil operating license. Economic viability and socioeconomic development.

Last Saturday (23/12), Petrobras began drilling the Pitu Oeste (RN) well, which marks the resumption of the company's exploration for oil and gas in the Equatorial Margin, a region that extends along the Brazilian coast of Rio Grande do Norte to Amapá. The drilling of the well, in the BM-POT-17 concession, which is 53 kilometers off the coast of Rio Grande do Norte, is expected to last from 3 to 5 months.

By drilling the Pitu Oeste well, Petrobras will obtain more geological information about the area, which will make it possible to confirm the extent of the oil discovery already made in 2014 in the Pitu well. The Brazilian oil company is very optimistic about the expected results, which could strengthen its position in the market.

Petrobras receives operating license from IBAMA

The Brazilian oil company, known as Petrobras, received from IBAMA, in October this year, the operating license to drill two oil and gas research wells, in deep waters in the Potiguar Basin, on the Brazilian Equatorial Margin. Petrobrás intends to contribute to the socioeconomic development of the region, without forgetting the importance of being part of efforts to promote national energy security.

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Starting the research

On Saturday (23/12), within the scope of the same environmental license, the company intends to drill the Anhangá well, in the POT-M-762 concession, located 79 km off the coast of the state of Rio Grande do Norte, close to the Pitu Oeste well. The oil already made and the environmental license were essential for Petrobras to move forward with this research project.

Future development

If the economic viability of the concession is confirmed, Petrobras will have to design and develop the entire operational structure for production. It will be necessary to carry out a new environmental licensing process specific to the production stage. This is part of Petrobras' commitment to ensuring sustainability and environmental preservation.

Investment and strategic planning

Petrobras' 2024-2028 Strategic Plan foresees an investment of US$3,1 billion for oil and gas research in the Equatorial Margin, where the company plans to drill 16 wells during this period. Petrobras is focused on boosting the exploration of natural resources in a sustainable manner, aiming for the country's economic growth. The development of these resources is fundamental to national energy security and Brazil's socioeconomic progress.

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Paulo S. Nogueira

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