Exploration in the Santos Basin: Petrobras Begins Drilling Second Extension Well in Block S-M-623

Exciting Discoveries in the Santos Basin! Petrobras Continues to Advance Its Exploration Program and Has Just Initiated Drilling of the Second Extension Well in Block S-M-623, Where the Promising Prospect of Sagittarius Is Located.

This achievement is the result of the company’s tireless effort to meet the requirements of the National Agency of Petroleum (ANP), which approved, in June 2021, the revision of the Discovery Evaluation Plan for the region.

This important well, technically named 3-BRSA-1388D-SPS, is located at a water depth of 1,867 meters. According to ANP guidelines, the names of extension wells always begin with the number 3. These wells are responsible for expanding or delineating the boundaries of a reservoir, ensuring a deeper understanding of the reserves.

It is important to note that Petrobras announced, in January 2020, the discovery of oil indications in block S-M-623 through the extension well 3-BRSA-1370-SPS. However, the initial results of the exploratory campaign fell short of expectations, which led the company to request an extension for exploration and assessment activities in the Sagittarius area.

In the Extension Deadline Request to ANP, Petrobras Argued That the Data Obtained Through the Drilling of the First Extension Well Did Not Meet Established Expectations.

Additionally, the economic assessment of the northern area of the accumulation indicated a significant negative impact on the project. Given these plausible justifications, the ANP approved, in June 2021, the extension of the timeline for the Discovery Evaluation Plan of the pioneering well 1-BRSA-1063-SPS until March 5, 2024.

In this context, one of the requirements set by the ANP for the approval of Petrobras’s request was the drilling of a second extension well. This measure reinforces Petrobras’s commitment to thoroughly and responsibly explore the potential of this promising area.

With the opening of this new extension well, more detailed information about the reserves present in Sagittarius is expected. This data will allow for an even more precise and robust analysis of the economic potential of the region. Petrobras, as a leading company in the oil exploration sector, is dedicated to analyzing every aspect of this discovery in order to make the most of available resources and contribute to the sustainable development of the country.

The Drilling of the Second Extension Well Also Brings a Series of Technical Challenges, Requiring Expertise and Advanced Knowledge.

Petrobras, with its extensive experience and highly qualified team, is prepared to face these challenges and overcome them successfully. This new phase of the exploration program reinforces the company’s commitment to using cutting-edge technologies, adhering to the strictest safety standards, and respecting the environment.

Petrobras demonstrates, once again, its capacity for adaptation and learning when dealing with the initial results falling short of expectations. This assertive and resilient stance is what drives the company to constantly seek improvements and advancements in its exploratory activities. The tireless pursuit of knowledge and innovation is what makes it a reference in the sector.

Within the Discovery Evaluation Plan, Petrobras’s team is fully committed to conducting detailed studies, thorough analyses, and extensive research to understand the geological and economic complexity of Sagittarius. This will enable the identification of the best strategies for exploration and production of oil in this area, ensuring efficient use of resources and maximizing economic return.

In summary, Petrobras is advancing its exploration program in the Santos Basin with the drilling of the second extension well in block S-M-623. The company faced challenges, learned from the initial results that fell below expectations, and requested an extension for the assessment of the Sagittarius area.

Now, with the commitment to meet the requirements of the ANP, Petrobras demonstrates its competence and expertise by initiating the drilling of the technical well 3-BRSA-1388D-SPS. This new advance aligns with the company’s vision to responsibly and efficiently explore Brazil’s oil potential. And above all, it reinforces Petrobras’s commitment to contribute to the sustainable development of the country, boosting the economy and ensuring a promising future for all.