Petrobras drills well in the Sagitario prospect block for a new assessement of the area’s potential

Petrobras made new advances in its exploratory program in the Santos Basin. This time, the company started drilling the second extension well in block SM-623, where the Sagitario prospect is located. The well received the technical name 3-BRSA-1388D-SPS and is located in a water depth of 1,867 meters. Drilling meets a requirement made by the National Petroleum Agency (ANP), which approved in June 2021 the revision of the Discovery Assessment Plan for the area.

According to ANP rules, the names of extension wells always start with the number 3. They are drilled to enlarge or demarcate the limits of a deposit. As a reminder, Petrobras announced, in January 2020, the discovery of oil evidence in block SM-623, through extension well 3-BRSA-1370-SPS. However, Petrobras said that the initial results of the exploratory campaign were “below expectations”. Therefore, the oil company requested more time for exploratory and evaluation activities in the Sagitario area.

In its request for an extension of the deadline, Petrobras claimed to the ANP that the information obtained with the drilling of the first extension well (3-BRSA-1370-SPS) presented a result below expectations. The company also added that the economic assessment of the northern area of the accumulation resulted in a strong negative impact on the project. In June 2021, the ANP approved Petrobras’ request, extending the deadline for the Discovery Assessment Plan for pioneer well 1-BRSA-1063-SPS to March 5, 2024.

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