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According to ANP, about three years after winning the Titan block in the pre-salt of the Santos Basin, the American ExxonMobil began the first exploratory drilling in the area
ANP – National Agency of Petroleum, Natural Gas and Biofuels, reported through its active wells that the American oil company ExxonMobil began the first exploratory drilling of the Titan block, located in the pre-salt of the Santos Basin, after three years. According to the Petronotícias portal, the drillship West Saturn is conducting drilling at a water depth of 2,644 meters. Also, see this news: ExxonMobil Begins Drilling New Well in Campos Basin
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The ExxonMobil Block That Started Being Explored
The pioneering well of ExxonMobil, located in the pre-salt of the Santos Basin, was named Titan-1 and drilling activities began last Sunday (15). For reference, the block is operated by ExxonMobil (64%) in partnership with QPI Brazil (36%) and was acquired in 2018 during the 5th Production Sharing Round. The signature bonus for the area was the highest in the auction, along with Saturn, totaling R$ 3.125 billion.
The Acquisition of the Titan Block in the Pre-Salt of the Santos Basin
In 2019, the ANP board approved the minimum exploratory program (PEM) for Titan, a block in the pre-salt of the Santos Basin contracted in the 5th production sharing round. One well is to be drilled by 2020, as part of a planning campaign that may reach up to 22 wells in the pre-salt. ExxonMobil has initiated two fronts of environmental licensing for the areas acquired in the 14th and 15th rounds and in the 3rd, 4th, and 5th pre-salt auctions, held since September 2017. There are up to 22 exploratory wells to be drilled, including two firm wells, one in block C-M-789 and the other in the Titan block.
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Drilling is planned for up to 17 exploratory wells in the blocks CM-753, C-M-789, S-M-536, S-M-647, and Titan, in the Campos and Santos Basins. In the area of blocks C-M-037 and C-M-067, both in the Campos Basin, drilling for up to five exploratory wells is planned. ExxonMobil currently holds participation in 26 exploratory assets in Brazil across the Campos, Santos, Sergipe-Alagoas, Ceará, and Potiguar Basins. The company is currently acquiring seismic data in the northern part of the Campos Basin.
Also Read This News: ExxonMobil Informed ANP About the Existence of Oil and Natural Gas in an Asset in the Campos Basin
The oil company ExxonMobil reported that it found evidence of oil and natural gas in an important well in ultra-deep waters located in the Campos Basin, but the company did not disclose whether the discovery is economically viable. The evidence of the existence of oil and gas in the asset was disclosed by ANP.
ExxonMobil will study the results of the Opal-1 A well to assess the exploration potential, the company said in a statement. Its partners in the asset, located in the Campos Basin, are Petrobras and Qatar Petroleum. ExxonMobil contracted the West Saturn rig from Seadrill for campaigns in Brazil. In January, it received permission to drill two firm wells and four contingent upon the campaign results. Overall, the company has mapped 15 possible locations in the blocks BM-C-753, BM-C-789 (both in the Campos Basin), BM-S-536, BM-S-647, and Titan (the three in Santos).
The Brazilian exploration industry is awaiting the results of this well and others to help determine how far the pre-salt region extends beyond the initial group of fields discovered by Petrobras. The region is the backbone of the Brazilian state-owned company’s growth plans. ExxonMobil also plans to drill in two other offshore basins in Brazil. Despite Petrobras’ success in the pre-salt, there have been disappointments for peers who, like ExxonMobil, bought expensive drilling rights in Brazil before oil prices plummeted.
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