March 28, 2018
Petrobras intends to start the production, from a Long-Term Test (TLD), of Farfan’s discovery in the exploration block area SEAL-M-426 in ultra-deep waters of the Sergipe-Alagoas Basin in September. The TLD will be conducted by FPSO BW Cidade de São Vicente, which is currently in the Santos Basin, and will last six months. Tomorrow the National Petroleum Agency will tender seven exploratory blocks with a total area of 5,283 km².
The region of ultra-deep waters of Sergipe, where there are currently nine wells drilled and five Discovery Assessment Plans (PAD) in progress, is attractive to both government and oil companies. In the deep-waters, 29 wells were drilled in the last decade, with 21 wells with traces of hydrocarbons.
The Sergipe Basin is a traditional shallow water offshore oil producer. Petrobras is currently insuring, in its divestment program, the Caioba, Camorim, Dourado, Guaricema and Tatuí fields. The company spent the last decade trying to license revitalization projects for the fields, but ended up not getting a license from Ibama.
The Petrobras TLD will be made in the area of the SEAL-M-426 exploration block, which is adjacent to the SEAL-M-501 and SEAL-503 blocks, sold in the ANP’s 14th round to ExxonMobil (50%), Queiroz Galvão E & P (30%) and Murphy Oil (20%). The consortium offered R $ 67 million and R $ 42 million for the areas, respectively.
ExxonMobil, Queiroz Galvão and Murphy are registered for the 15th round. It will not be surprising if the companies return to form the same consortium to dispute areas in Sergipe.
ExxonMobil bidding here and not on the Gulf of Mexico? In the 2017 auctions, the US oil company was a partner of Petrobras and Statoil in pre-salt areas in the Campos and Santos basins. It did not enter, however, at this week’s auction in the Gulf of Mexico.
Brazil Energy Insight 
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