BP notifies ANP discovery of oil signs in the Pau Brasil block

(PN) British oil company BP has notified the National Petroleum Agency (ANP) about the discovery of oil signs in the pioneer well of the Pau Brasil block, in the pre-salt layer of the Santos Basin. As we reported, the well (which received the technical name 1-BP-12D-RJS) is located in a water depth of 2,283 meters and was drilled by the DS-15 drillship, owned by Valaris. Drilling began in mid-June and was completed on August 21.

Oil companies must always notify ANP when they find signs of hydrocarbons during drilling. The presence of these signs does not mean, at first, that a given block will be economically viable. Only after evaluating the information gathered so far will BP be able to make a final decision and determine whether the block will be viable or not.

The new well in Pau Brasil has the potential to become a milestone in bp’s operations in Brazil, being one of the company’s main bets in the country. Acquired in the 5th Oil Sharing Round in 2018, with a surplus oil percentage of 63.79%, the block is operated by bp (50%) in partnership with CNOOC Petroleum (30%) and Ecopetrol (20%).

In addition to Pau Brasil, bp also operates blocks 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 has interests in blocks BM-BAR-3 and BM-BAR-5 in Barreirinhas; and in blocks C-M-477, Dois Irmãos and Alto de Cabo Frio Central in the Campos Basin.