Petrobras reports on the results of an exploratory well in the pre-salt layer of the Campos Basin

 Petrobras reported today, March 25, that it has identified the presence of hydrocarbons in the pre-salt layer of the Campos Basin, in an exploratory well in the North Brava block. 

Well 1-BRSA-1394-RJS is located 105 km off the coast of the state of Rio de Janeiro, at a water depth of 575 meters. 

The well drilling has been completed and final profiling is currently underway. The hydrocarbon-bearing interval was identified through electrical profiles, gas traces and fluid sampling, which will later be characterized through laboratory analysis. The consortium will continue operations to complete the well design and characterize the conditions of the reservoirs and fluids found. This data will allow us to assess the potential and direct future exploratory activities in the area. 

The North Brava block constitutes an important asset for the exploration of the pre-salt potential, particularly in the Campos Basin. The block was acquired in December 2022, in the 1st Cycle of the Permanent Production Sharing Offer, a bidding process carried out by the National Agency for Petroleum, Natural Gas and Biofuels (ANP), under the Production Sharing regime, with PPSA as manager. Petrobras is the operator of the block and holds a 100% stake. 

PPSA sells 37.5 million barrels of oil for an estimated value of BRL 17 billion

Seven companies competed for oil from the Mero and Búzios fields in the 4th Government Oil Auction.

In an auction contested by seven companies, Pré-Sal Petróleo (PPSA) sold, on Wednesday (31), at B3, 37.5 million barrels of oil from the Government’s 2025 production, related to the Mero and Búzios fields. The 4th Government Oil Auction set a record for the number of qualified companies, record participation of bidding companies, and record potential revenue for public coffers: the estimate is BRL 17 billion – BRL 2 billion more than initially expected – in just twelve months, starting in April 2025.

The auction was divided into four lots, three from Mero (two with 12 million barrels and one with 11 million barrels) and one from Búzios (with 2.5 million barrels).

All the lots were sold with results better than the 3rd Oil Auction, which sold the Government’s Mero and Búzios cargoes for the period from 2022 to 2024.

The weighted average price from 2022 to June 2024 for the Mero oil agreements was dated Brent minus USD 5.98 per barrel, and for Búzios, it was dated Brent minus USD 7.12 per barrel. The prices for the 2025 winners of the auction were as follows:

  • Lot 1 Mero / Dated Brent minus USD 1.85 per barrel;
  • Lot 2 Mero / Dated Brent minus USD 1.59 per barrel;
  • Lot 3 Mero / Dated Brent minus USD 1.35 per barrel; and
  • Lot 4 Búzios / Dated Brent minus USD 1.85 per barrel.

Minister of Mines and Energy, Alexandre Silveira, stated that it is essential to continue working to ensure more production, more revenue, more national capacity, and to reduce dependence on imports. “We are the 9th largest oil producer in the world and the largest in South America. Brazil has the largest recoverable deepwater oil reserves in the world. But we need to fight for energy independence and for the economic growth of the Brazilian people,” said the Minister.

Tabita Loureiro, Acting President of PPSA, emphasized that this auction achieved the highest value ever paid in history for the Government’s oil: “It’s an excellent result. The price offered is much higher than the current agreements. We worked hard on improving the public notice and the auction dynamics to maximize results for Brazilian society, and we have fulfilled our role.”

At the end of the event, Tabita announced that in 2025, PPSA will return to B3 to commercialize the estimated production for the Government in 2026. “All of this is just the beginning. The production-sharing agreements will generate a lot of oil for Brazilian society. By 2029, the Government's production in these agreements will exceed 500 thousand barrels per day. All of this means wealth for Brazil, direct contributions to the Social Fund,” she said.

 

Lots auctioned

Lot 1: Petrobras wins the first Mero lot

After prevailing in a competitive bid against companies CNOOC, Galp, Petrochina, Refinaria de Mataripe, and Total Energies, Petrobras secured the first lot of the Mero Field, pertaining to the production of 12 million barrels of oil from the FPSO Guanabara platform, at a price of dated Brent minus USD 1.85 per barrel.

 

Lot 2: The second lot of Mero was acquired by the Chinese company CNOOC.

The second lot of Mero, also comprising 12 million barrels of oil, this time from the FPSO Sepetiba, was acquired by the Chinese company CNOOC, at a price of dated Brent minus USD 1.59 per barrel, following a competitive bidding process with Petrobras. They also set values for this lot: Galp, Petrochina, and Mataripe Refinery.

 

Lot 3: The last lot of Mero goes to Petrochina.

Petrochina acquired the third and final lot of Mero, referring to the projected production from the FPSOs Duque de Caxias and Pioneiro de Libra, totaling 11 million barrels in 2025, for the dated Brent price minus USD 1.35 per barrel. The competition was intense in the live bidding process between the companies Petrobras and Petrochina. The company Galp also submitted a bid.

 

Lot 4: The Búzios lot was auctioned off to Petrobras in the 4th Government Oil Auction.

At the conclusion of the 4th Government Oil Auction, the Búzios lot was acquired by Petrobras for the dated Brent price minus USD 1.85 per barrel. The competition was intense in the live bidding process among Petrobras, Prio, and CNOOC. Petrochina and Galp also submitted bids.

Photo: JFDiorio

Siglas ETA

η inf (%). Limite Inferior de Eficiência Volumétrica, % nas Condições de Teste de Recebimento (Lower Volumetric Efficiency Limit, % Under Receiving Test Conditions)
η sup (%). Limite Superior de Eficiência Volumétrica, % nas Condições de Teste de Recebimento (Upper Volumetric Efficiency Limit, % Under Receiving Test Conditions)

Siglas Z

ZBV. Zona de Baixa Velocidade (Low-Velocity Zone)

ZEE. Zoneamento Ecológico-econômico (Ecological-economic Zonation)

ZEEC.- Zoneamento Ecológico-Econômico Costeiro (Coastal Ecological-Economic Zoning)

Siglas Y

Conteúdo em construção.

Siglas X

XBD. crossbedded (camada com estratificação cruzada) (camada com estratificação entrecruzada, Port.)

XLPE. Cross-Linked Polyethylene (Polietileno Reticulado).

XO. Crossover (Sub de Cruzamento)

XOV. Crossover Valve (Válvula de Interligação)

XT. Christmas Tree (Árvore de Natal)

XTRT. Christmas Tree Running Tool (Ferramenta de Instalação da Árvore de Natal)

Siglas W

W/C. Water Cushion (Almofada de Água)

W/O. Workover (Trabalhos de restauro de poço)

W1. Wing 1 (Válvula Lateral da Linha de Produção na Árvore de Natal Molhada)

W2. Wing 2 (Válvula Lateral da Linha do Anular na Árvore de Natal Molhada)

WAB.- Weak Air Blow (Sopro de Ar Fraco)

WAP. Wax Apperance Point (Ponto de Formação de Parafina)

WAT. Wax Appearance Temperature (Temperatura de Formação de Parafina)

WB. Wear Bushing (Bucha de Desgaste)

WBM. Water Based Mud (Fluidos à Base de Água)

WBRT. Wear Bushing Running Tool (Ferramenta para Instalar, Desassentar a Bucha de Desgaste na Cabeça do Poço)

WBS. Work Breakdown Structure (Estrutura Analítica de Projeto)

WC. Water Cut (Corte de Água) (Corte com Água Misturada, Port.)

WC. Wildcat (Poço Pioneiro)

WCM. Water Cut Mud (Lama com Água)

WCO. Waiting On Cement (Esperas Secagem do Cimento)

WCO.- Water Cut Oil (Óleo com Água)

WCT. Wet Christmas Tree (Árvore de Natal)

WD. Water Depth (Lâmina D’água, Profundidade D’água) (Lâmina de Água, Profundidade de Água, Port.)

WellCAP. Well Control Accreditation Program (Programa de Credenciamento em Segurança de Poço)

WFM. Water Fraction Meter (Medidor de Fração de Água)

WGR. Water-Gas Ratio (Razão Água-Gás)

WHP. Wellhead Pressure (Pressão na Cabeça de Poço)

WIH.- Went in Hole (Entrou no Poço). Normalmente depois de mudança de broca.

WITS. Wellsite Information Transfer Specification (Protocolo de Intercâmbio de Dados)

WKO. Workover (Trabalhos de restauro de poço)

WL. Wireline (Cabo de Aço)

WLR. Water-Liquid Ratio (Razão Água-Líquido)

WO. Workover (Trabalhos de restauro de poço)

WOB. Weight on Bit (Peso ou Pressão Sobre a Broca)

WOC. Waiting on Cement (Tempo de Espera da Pega do Cimento)

WOCS. Workover Control System (Sistema de Controle de Workover)

WOMP. Well Operations Management Plan (Plano de Gestão de Operações em Poço)

WOR. Waiting on Rig (À Espera da Sonda)

WOR. Workover Riser (Riser de Completação)

WOW. Waiting on Weather (À Espera de Melhoria do Tempo)

WP. Working Pressure (Pressão de Trabalho)

WPC. World Petroleum Congress (Congresso Mundial de Petróleo)

WPC. World Petroleum Congress (Congresso Mundial do Petróleo)

WTI. West Texas Intermediate (Referência Norte-Americana de Qualidade de Óleo Cru)

WTS. Water to Surface (Água à Superfície)

WXT. Wet Christmas Tree (Árvore de Natal Molhada)

Siglas V

V. Volume (Volume)

VASPS. Vertical Annular Separation and Pumping System (Sistema de Separação Vertical Anular com Bombeamento)

VBR. Variable Bore Rams (Gaveta Variável de Tubos)

VD. Vertical Depth (Profundidade Vertical)

VDL. Variable Density Log (Perfil de Densidade Variável)

VDV. Válvula de Dupla Vedação (Double Seal Valve)

VFD. Variable Frequency Drive (Conversor de Frequência)

VFG.- very fine grain (grão muito fino)

VGL. Válvula de Gas Lift (Gas Lift Valve)

VGP. Virtual Geomagnetic Pole (Polo Geomagnético Virtual)

VI. Viscosity Index (Índice de Viscosidade)

VIM.- Vocabulário Internacional de Metrologia (International Vocabulary of Metrology)

VISC. – Viscosidade (Viscosity)

VIV. Vortex-Induced Vibration (Vibração Induzida por Vórtices)

VLA. Vertical Load Anchor ( ncora de Carga Vertical)

VLCC. Very Large Crude Carrier (Navio-tanque de Petróleo) (Navio-tanque de Petróleo de Grandes Dimensões e Volume, Port.)

VLF. Very Low Frequency (Freqüência Muito Baixa) (Diagrafia de Densidade Variável, Port.)

VLGC. Very Large Gas Carrier (Navio Tanque de Gás) (Navio-tanque de Gás de Grandes Dimensões e Volume, Port.)

VOIP.- Volume of Oil in Place (Volume de óleo in Place)

VP.- Vibrated Point (Ponto Vibrado)

VPL. Valor Presente Líquido (Net Present Value)

Vs/Vp. Razão Vs/Vp, entre as velocidades das ondas S e P (Vs/Vp ratio, between the speeds of waves S and P)

VSD. Variable Speed Drive (Unidade de Velocidade Variável / conversor de frequência)

VSP. Vendor Stocking Program (Programa de Controle de Estoque)

VSP. Vertical Seismic Profiling (Perfilagem de Sísmica Vertical)

Siglas U

UAG.- Stand-alone Installation (Port.) (instalação autónoma de recepção, armazenamento e regaseificação de GNL)

UB. Unidade de Bombeio (Beam Pump Unit)

UBM. Unidade de Bombeamento Mecânico (Sucker-Rod Pumping Unit)

UC. Unidade de Conservação (Conservation Unit)

UC. Unidade de Consistência (Consistency Unit)

UCA. Ultrasonic Cement Analyzer (Análisador Ultrasônico de Cimento)

UCM. Unresolved Complex Mixture (Mistura Complexa não Resolvida)

UCS. Unconfined Compressive Strength (Superfície com alta resistência à abrasão e compressão)

UEP. Unidade Estacionária de Produção (Stationary Production Unit)

UGS. Underground Gas Storage (Estocagem Subterrânea de Gas)

ULCC. Ultra Large Crude Carrier (Navio-tanque para Transporte de Petróleo Cru)

ULSD. Ultra-Low Sulfur Diesel (Diesel Ultra Baixo Enxofre)

UMS. Unidade de Manutenção e Segurança (Maintenance and Security Unit)

UNT. Unidade Nefelométrica de Turbidez (Nephelometric Turbidity Unit)

UPGN. Unidade de Processamento de Gás Natural (Natural Gas Processing Unit)

UPR. Upper Pipe Ram (Gaveta Superior de Tubo) (Pistão de Controlo Superior da Tubagem, Port.)

UPS. Uninterrupted Power Supply (Fornecimento Ininterrupto de Energia)

USBM. United States Bureau of Mines (Departamento de Minas dos Estados Unidos)

USEPA. United States Environmental Protection Agency (Agência de Proteção Ambiental dos Estados Unidos)

USV. Underwater Safety Valve (Válvula Submarina de Segurança)

UTM. Universal Transverse Mercator (Projeção Universal Transversal de Mercator)

Siglas T

TA. Temporarily Abandoned (Temporariamente Abandonado)

TAF. Teste de Aceitação de Fábrica (Factory Acceptance Test)

TAI. Thermal Alteration Index (Índice de Alteração Ttermal)

TAN. Total Acid Number (Índice de Acidez Total)

TBG HGR. Tubing Hanger (Suspensor de Coluna de Produção)

TBN. Total Base Number (Índice de Basicidade Total)

TC. Turbo Compressor (Turbo Compressor)

TCF. Trillion Cubic Feet (Trilhões de Pés Cúbicos)

TCP. Tubing Conveyed Perforation (Canhoneio Através da Coluna de Produção) (Perfuração feita com Tubagem de Produção, Port.)

TD. Total Depth (Profundidade Total)

TDC. Tangible Drilling Costs (Custos Tangíveis de Perfuração)

TDEM. Time-Domain Electromagnetic (Indução Eletromagnética no Domínio do Tempo)

TDP. Touch Down Point (Ponto de Contato no Solo Marinho)

TDT. Thermal Decay Time (Tempo de Decaimento Térmico)

TEC. Tarifa Externa Comum (Common External Tariff)

TENORM. Technologically Enhanced Naturally Occurring Radioactive Material (Material Radioativo de Ocorrência Natural Tecnologicamente Aumentado)

TEP. Tonelada Equivalente de Petróleo (Ton of Oil Equivalent)

TF. Teste de Formação a Poço Aberto (Open Hole DST)

TFL. Through Flowline System (Sistema de Controle de Poço Através de Linha de Fluxo)

TFR. Teste de Formação em Poço Revestido (Cased Hole Drill Stem Test)

TG. Turbo Gerador (Turbo Generator)

TGB. Temporary Guide Base (Base Guia Temporária)

TGLR. Total Gas / Liquid Ratio (Razão Gás / Líquido Total)

TH. Tubing Hanger (Suspensor de Coluna de Produção)

THP. Tubing Head Pressure (Pressão na Cabeça do Tubo de Produção)

THRT. Tubing Hanger Running Tool (Ferramenta de Instalação de Suspensor de Coluna de Produção)

TIAC. Temperatura Inicial de Aparecimento dos Cristais (Wax Appearance Point Temperature)

TIH. Trip in Hole (Realizar a manobra de descida no poço)

TIR. Taxa Interna de Retorno (Internal Rate of Return)

TIT. Tree Installation Tool (Ferramenta de Instalação de Árvore de Natal)

TKV. Tubing Kill Valve (Válvula de Amortecimento da Coluna de Produção)

TLD.- Teste de Longa Duração (Long Duration Test, Long Term Test)

TLP. Tension Leg Platform (Plataforma de Pernas Atirantadas)

TLWP.- Tension Leg Wellhead Platform (Plataforma de Pernas Atirantadas Suporte de Cabeça de Poço)

TOC.- Top of Cement (Topo do Cimento)

TOC. Total Organic Carbon (Carbono Orgânico Total)

TOG.- Teor de Óleo e Graxa (Oil and Grease Content)

TOH.- Trip Out of the Hole (Saída do Poço)

TOL. Teor de Óleo e Lubrificante (Port.) (Oil and Grease Content)

TOP.- Take Or Pay (Retirar Totalidade de Volume Contratado)

TP. Tubing Pressure (Pressão no Tubo de Produção)

TPA. Third Party Access (Livre Acesso à Rede de Terceiros)

TPR. Tubing Pressure Relationship (Relação Tubulação e Pressão)

TPSI. Tubing Pressure Shut-In (Pressão de Fechamento no Tubo de Produção)

TPT. Temperature and Pressure Transducer (Transdutor de Pressão e Temperatura)

TR. trace (vestígio)

TRT. Tree Running Tool (Ferramenta de Instalação da Árvore de Natal Molhada)

TS. Temperature Survey (Levantamento de Temperatura)

TS. Transgressive Surface (Superfície Transgressiva)

TSE. Temperature Safety Element (Elemento de Segurança de Temperatura)

TSH. Temperature Safety High (Segurança de Temperatura Alta)

TSL. Temperature Safety Low (Segurança de Temperatura Baixa)

TSP.- Thermally Stable Polycrystalline (Termicamente Estável Policristalino)

t-SRB. thermophilic Sulfate-Reducing Bacteria (Bactéria Termofílica Redutora de Sulfato)

TSS. Total Suspended Solids (Total de Sólidos em Suspensão)

TSTM. Too Small to Measure (Pequeno Demais para ser Medido)

TSV. Tender Support Vessel (Embarcação de Suporte a Balsa)

TTL. Transistror-Transistor Logic (Lógica Transistor-Transistor)

TVD. True Vertical Depth (Profundidade Vertical Real, Profundidade Medida na Vertical)

TVG. Time Varied Gain (Ganho de Tempo Variado)

TWC.- Total Well Costs (Custos Totais do Poço)