BP to start drilling pioneer well in the Pau Brasil Block

(PN) Drilling of the pioneer well in the Pau Brasil block, operated BP in the Santos Basin pre-salt, is scheduled to begin next month on April 24th. The well will be drilled by the Valaris DS-15 drillship. The vessel is being chartered at a daily rate of US$410,000. The contract will be valid until June 25th. The change in schedule is present in the latest version of Valaris’ fleet report.

The new well in Pau Brasil could represent a milestone for BP’s operations in Brazil and is one of the company’s biggest bets. The area was auctioned in 2018, in the 5th Sharing Round, with a proposed oil surplus percentage of 63.79%. BP holds a 50% stake, in partnership with CNOOC Petroleum (30%) and Ecopetrol (20%).

In addition to Pau Brasil, BP is also the operator of the following blocks in the country: S-M-1500, in the Santos Basin; C-M-793 and C-M-755, in the Campos Basin; and BM-BAR-346, in the Barreirinhas Basin. The company also holds interests in blocks BM-BAR-3 and BM-BAR-5, in Barreirinhas; C-M-477, Dois Irmãos and Alto de Cabo Frio Central, in the Campos Basin.