Brazil’s Petrobras in offshore hydrocarbons find

Brazil

RIO DE JANEIRO, January 8, 2019 – Brazilian NOC Petrobras has struck hydrocarbons through a wildcat well drilled in the Peroba pre-salt field, though commercial potential has yet to be established, international media reported Monday.

Ocyan’s ODN II drillship is being used to drill the well at a depth of 2,235 metres, Upstream Online reported.

Located south of the giant Lula field, Peroba is estimated to contain 5.3 billion barrels of oil in place. Petrobras operates the field with a 40% stake, working alongside partners BP (40%) and China National Oil & Gas Exploration & Development Corporation (20%).

In other news from Brazil, the country’s antitrust watchdog, the Administrative Council for Economic Defense, has said Petrobras should completely divest from four of its refineries to open the domestic downstream market, S&P Global Platts reported on Monday.

In April last year, the NOC announced plans to sell as much as 60% of its stakes in four of its northeastern refineries as part of a divestment programme, though no sales have gone forward due to several court decisions.