By Brazil Stock Guide — Petrobras has discovered a second oil-bearing interval at the Morpho well in ultra-deep waters off the coast of Amapá, adding further evidence of the petroleum potential of the Foz do Amazonas Basin, one of the company’s key new exploration frontiers.
The discovery was made in the FZA-M-59 block, in water depths of 2,886 meters, after Petrobras continued drilling the well to test deeper exploration targets. The new oil-bearing interval was identified through wireline logs, oil shows in rock samples and fluid samples collected during drilling.
The finding follows an earlier discovery at the same well announced in August. Petrobras said subsequent analysis has now confirmed the good quality of the crude oil found in that first interval.
The presence of oil in multiple intervals within the same well strengthens the geological case for the area and will provide additional data for assessing the petroleum system and potential resources in the Foz do Amazonas Basin.
Petrobras has not yet disclosed estimates for recoverable volumes, reservoir thickness, well productivity or the commercial viability of the discovery. The samples collected will undergo further laboratory analysis and be integrated with the broader dataset gathered during drilling.
The company said it will continue evaluating the formations identified at Morpho. Exploration of Brazil’s Equatorial Margin is a strategic priority for Petrobras as it seeks to replenish its oil and gas reserves over the long term.
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