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Acquisition Reinforces Petroborn’s Strategy to Expand Operations in Mature Areas with High Productive Potential in the Recôncavo Basin.
Petroborn, an independent oil operator, completed this week the acquisition of the Bela Vista field, located in the Recôncavo Basin in Bahia. The transaction, finalized in July 2024 with the company Imetame, marks another step in Petroborn’s regional growth strategy, which has focused on mature exploration areas since 2015.
The company has already announced an investment plan of US$ 35 million, divided into two phases. These will be used to reactivate wells and increase production in this asset and in drilling wells in other assets it already owns, in addition to new acquisitions that are being negotiated. In the Bela Vista Field, US$ 2 million will be invested to reactivate 4 wells and carry out interconnection activities and construction of surface facilities.
Petroborn Aims for Immediate Production Increase in the Bela Vista Field
With an area of 2.13 km² and six drilled wells, the Bela Vista field has proven reserves estimated at 9.7 million barrels of oil.
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The project is seen as strategic as it represents the company’s entry into oil production and is located near historical fields operated by Petrobras, such as Fazenda Balsamo and Rio do Bu.
In the first phase of investment, Petroborn plans to invest US$ 15 million over the next two years, focusing on the integrated development of its main assets.
The resources will be allocated to the reactivation of four currently inactive wells and the implementation of surface infrastructure in the Bela Vista Field, with an initial production expectation of up to 300 barrels per day of oil.
In addition to drilling new wells in the Iraí Field and in exploration blocks TUC-172, REC-103, and REC-165, which are located near mature and productive fields operated by Petrobras in the Recôncavo Basin.
With these initiatives, the expectation is to achieve a combined production of up to 1,000 barrels of oil per day, leveraging the high geological potential of the areas and their proximity to existing infrastructure.
There are also plans for works to implement storage and interconnection systems between the wells, essential to ensure safe flow and efficient production control.
This phase is considered essential to consolidate operations and prepare the field for future capacity increases.
After stabilizing initial activities, Petroborn is already planning a new round of investments in the Bela Vista field.
The company is expected to allocate an additional US$ 20 million with the goal of expanding its assets through new acquisitions.
The expansion plan demonstrates Petroborn’s confidence in the continuous development of its assets and in leveraging underutilized areas with significant recovery potential.
Company History Reinforces Focus on Strategic Assets in Bahia
Petroborn’s operations in the oil sector began in 2015 with the acquisition of the Iraí field in the South Tucano Basin during the 13th Round of the National Oil Agency (ANP).
Since then, the company has consistently expanded its portfolio, concentrating its operations exclusively in Bahia.
In 2020, it acquired a neighboring block to the Iraí field, strengthening its presence in the South Tucano Basin.
Two years later, it incorporated two more blocks in the Recôncavo Basin, near fields considered strategic and with a long history of production.
In 2024, Petroborn formalized the acquisition of the Bela Vista field, marking its entry into oil production, which until then had been focused exclusively on natural gas.
With the arrival at the Bela Vista field, Petroborn strengthens its position as one of the leading independent operators operating in Bahia.
The choice of fields with productive history and privileged locations is part of a strategy aimed at optimizing existing assets, rather than exploring new frontiers.
The robust investment planned for Petroborn’s assets reflects a bet on the reactivation of mature fields as a way to boost national oil production sustainably and efficiently.
About Petroborn
Petroborn Oil and Gas S.A. is an independent Brazilian company focused on the exploration, development, and production of oil and natural gas.
Headquartered in Rio de Janeiro and with field operations located in Bahia, the company concentrates its strategic actions on onshore projects within Brazil’s main sedimentary basins.
What sets Petroborn apart in the sector is the synergy between its technical and commercial knowledge, combined with an agile and effective regional operation.
This combination allows the company to identify and transform opportunities into productive assets efficiently and sustainably, always based on a deep understanding of the energy market.
With a dynamic growth approach, Petroborn actively participates in initiatives such as farm-ins, ANP bidding rounds, Permanent Offering cycles, strategic acquisitions, and Petrobras divestment processes.
These actions are part of a continuous effort to broaden and diversify its portfolio, promoting long-term value creation.
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