Petrobras Makes Oil Discovery in Campos Basin

Petrobras announced this Tuesday morning, April 7, that it has identified the presence of oil in the exploratory well located in the Southwest Tartaruga Verde block, situated in the Campos Basin. No Place to Store Oil! War Between Saudi Arabia and Russia Leaves the World Swimming in Oil.

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The well, informally named Natator, is located 130 km from the city of Macaé, in Rio de Janeiro, at a water depth of 1,080 meters, with the discovery of oil confirmed in carbonate reservoirs of the post-salt section.

The well data will be analyzed to better direct exploratory activities in the area and assess the potential of the discovery.

The Southwest Tartaruga Verde block, acquired in the 5th Production Sharing Round in September 2018, is part of the so-called Pre-salt Polygon, under a production sharing agreement.

Petrobras is the operator of the block with 100% ownership, with Pré-sal Petróleo S.A. (PPSA) as the manager.

Petrobras Reports Oil Production in April

Petrobras also announced this morning (07) that it has approved an oil production target in Brazil for April of 2.07 million barrels per day (bpd). The new monthly production estimate already includes the reductions announced on 03/26/2020 and 04/01/2020.

Thus, there will be daily monitoring of the production projection, raising or lowering the restrictions to ensure the average production volume of 2.07 million bpd in April.

The company continues to monitor the market and, if necessary, will make new adjustments, always ensuring safety conditions for people, operations, and processes.

Petrobras will keep the markets informed about future movements.