Petrobras Reports Hydrocarbon Discovery at the Mouth of the Amazon River
Petrobras (NYSE: PBR) has identified the presence of hydrocarbons in an exploratory well in deep waters off the coast of Amapá, marking a potentially important development in Brazil’s Equatorial Margin.
The well is part of the Foz do Amazonas sedimentary basin, one of the five basins that make up Brazil’s Equatorial Margin, a frontier extending along the country’s northern and northeastern coastline.
The Morpho well is located approximately 175 kilometers off the coast of Amapá, at a water depth of 2,886 meters.
Petrobras is the operator of Block FZA-M-59 and holds a 100% working interest in the area. The block was acquired by Petrobras in 2013 during Brazil’s 11th Round of Bidding under the concession regime.
Petrobras President Magda Chambriard commented:
“Our optimism regarding the Brazilian Equatorial Margin is confirmed today. This first discovery off the coast of Amapá is the result of Petrobras’ dedication and expertise. The company is committed to replenishing oil reserves and ensuring the country’s energy security.”
In the full article Is discuss the similarities between this discovery and Guyana’s oil boom, as well as how the discovery fits into Petrobras’ 2026–2030 Business Plan and its broader exploration strategy.
Read the full article: https://brazilianfinance.com/news/petrobras-reports-hydrocarbon-discovery-in-the-amazon-river-mouth