Petrobras Hits Oil For The Third Time In Amapá Block, Finishes Drilling At Morpho
The Morpho well found another oil-bearing interval in 2,886 meters of water, and the rig heads next to the Potiguar Basin.
Petrobras, Brazil's state-controlled oil company, said it found another oil-bearing interval in its Morpho well off Amapá, the third discovery in block FZA-M-59. Drilling and geological data collection at the well are complete, the company said in a release dated Thursday and furnished to the SEC.
Third find in block FZA-M-59
Morpho lies offshore of Amapá state in 2,886 meters of water. Continued evaluation of other intervals of interest confirmed the new discovery, the company said.
It follows the discoveries Petrobras announced in August and early October, in notices to the market dated August 14 and October 22, 2026.
Rig moves to the Potiguar Basin
Only well abandonment, the final step of closing out the well, remains at Morpho. The rig will then move to the Potiguar Basin, off Rio Grande do Norte, and start drilling at the Mãe de Ouro location.
Petrobras said its work in the block fits a long-term strategy of replenishing oil and gas reserves by exploring new frontiers.
Petrobras has a market value of $141.1 billion, and its U.S.-listed shares closed at $21.90 on Thursday.
Once Morpho is abandoned, the rig's next job is drilling at Mãe de Ouro in the Potiguar Basin.
Sources
- Form 6-K — Petrobras completes drilling with another oil discovery in Ultra-Deep Waters off the Coast of Amapá — SEC EDGAR
- Petrobras production jumped 12% in Q3 to hit record high (PBR:NYSE) | Seeking Alpha — seekingalpha.com
- Halliburton, Petrobras complete first ROCS deployment offshore Brazil (HAL:NYSE) | Seeking Alpha — seekingalpha.com
