Petrobras announces new Potiguar Basin oil discovery

Petrobras has discovered an accumulation of oil in the ultra-deepwater Potiguar Basin, in the Anhangá exploratory well, the company announced on Tuesday.

The Anhangá well is located on the coast between the states of Ceará and Rio Grande do Norte, about 190 kilometres from Fortaleza and 250 kilometres from Natal, at a water depth of 2,196 metres in the Equatorial Margin.

This is Petrobras’ second discovery in the Potiguar Basin in 2024. It comes after the company detected oil and natural gas in the Pitu Oeste well in February. Both discoveries still require further assessment to determine commercial viability.

The Equatorial Margin is considered to have important hydrocarbon potential and has attracted considerable interest from oil and gas players in recent years, especially following discoveries made offshore Guyana and Suriname.

Petrobras has drilled more than 700 wells in the area and foresees additional investments of up to USD 3.1 billion until 2028 on further exploration.