Brazilian President Lula Says Petrobras Found Light Oil in the Amazon River Mouth Basin on the 17th

en.Wedoany.com Reported - On August 14, Petrobras identified hydrocarbon-bearing intervals in the Morpho exploration well in Block FZA-M-59 of the Amazon River Mouth Basin, Brazil. The well is located approximately 175 kilometers off the coast of Amapá State, Brazil, at a water depth of 2,886 meters, and drilling and exploration evaluation are currently ongoing.

The hydrocarbon-bearing intervals were identified through electrical logging data and oil and gas shows in the rock. Petrobras will continue drilling to the designed depth to analyze reservoir conditions and hydrocarbon properties, in order to determine the resource scale of the area and subsequent exploration plans. The current results have not yet generated resource or reserve figures, nor have they entered the commercial development stage.

On August 17, Brazilian President Lula boarded the offshore drilling vessel carrying out the drilling operation and stated that preliminary oil samples exhibited light characteristics, with existing test results being relatively positive. Petrobras CEO Magda Chambriard stated that the Morpho well has confirmed the presence of oil, but the exact quantity still needs to be determined through subsequent drilling and evaluation, and the well is expected to take another 15 to 20 days to complete the current phase of operations.

The Morpho well is the first deepwater exploration well in Block FZA-M-59. Brazil's Institute of Environment and Renewable Natural Resources approved drilling of the well in October 2025, and operations subsequently commenced. In January 2026, a drilling fluid leak occurred in the pipeline connected to the drilling vessel, temporarily suspending drilling operations, which resumed in March after equipment repairs were completed and regulatory permits were obtained.

Block FZA-M-59 is 100% held and operated by Petrobras, which acquired the block in 2013 through the 11th Bidding Round of Brazil's National Agency of Petroleum, Natural Gas and Biofuels. The company also plans to drill three additional exploration wells in the block, and the related operations are still subject to environmental licensing procedures.