Petrobras is within 500 meters of reaching the Morpho reservoir in the FOZ do AMAZONAS BASIN

July 31 (PN) Petrobras is very close to completing a key stage of its exploration campaign in the promising FZA-M-059 block, located in the Foz do Amazonas Basin within the Equatorial Margin. The company’s Director of Exploration and Production, Sylvia Anjos, revealed on Thursday (30)—during the Sergipe Oil & Gas 2026 event—that the drillship is just 500 meters away from reaching the reservoir of the pioneering Morpho well.

The executive reaffirmed Petrobras’ latest forecast to complete the well’s drilling in August. The campaign began in October of last year following a lengthy environmental licensing process with Ibama. However, the operation suffered a setback in January when Foresea’s drillship ODN-II experienced a drilling fluid leak, causing a suspension of activities. Work did not resume until the following month.

The company’s exploration target at Morpho lies at a depth of approximately 6,000 meters. The state-owned company holds six blocks in the Foz do Amazonas Basin and plans to drill eight wells in the region. For block FZA-M-059—where Morpho is located—the company has already filed a request for authorization to drill contingent wells, the execution of which will depend on the results of the current exploration campaign.

According to the National Agency of Petroleum, Natural Gas and Biofuels (ANP), the estimated volume of oil in the Equatorial Margin exceeds 30 billion barrels (bbl).