By Brazil Stock Guide – Petrobras (NYSE: PBR) said on Monday (13) it has identified hydrocarbons in the pre-salt layer of the Campos Basin, following drilling activity in the C-M-477 block offshore Rio de Janeiro.
The exploratory well, designated 1-BRSA-1404DC-RJS, is located about 201 kilometers off the coast, in water depths of 2,984 meters. The finding marks another step in the company’s efforts to expand its oil and gas reserves.
“The hydrocarbon-bearing interval was identified through electric logs, gas shows and fluid sampling,” Petrobras said in a statement. The company added that collected samples will undergo laboratory analysis to determine reservoir characteristics and fluid properties.
These studies will guide the next phase of evaluation and help assess the commercial potential of the discovery. Petrobras noted that drilling operations were completed safely and in compliance with environmental and operational standards. “The drilling of the well was completed safely, with respect for the environment and people,” the company said.
Petrobras operates the C-M-477 block with a 70% stake, in partnership with BP Plc (NYSE: BP), which holds the remaining 30%. The block was awarded under Brazil’s 16th ANP bidding round under a concession regime.
The company said the discovery aligns with its strategy to rebuild reserves through frontier exploration areas, ensuring energy supply amid the ongoing energy transition.