Petrobras reports Ceara deepwater oil discovery

Petrobras has reported a deepwater oil discovery in the Ceara basin offshore northeastern Brazil.

The Pecem (1-BRSA-1080-CES) well in 2,129 m of water 76 km off Paracuru County on the Ceara coast encountered oil during drilling in siliciclastics of the Cretaceous Paracuru formation based on log analysis and wireline tests, and fluid samples indicate liquid hydrocarbons.

Drilling is to continue from the present depth of 4,410 m to 5,500 m. The companies plan to evaluate the discovery’s porosity, permeability, and areal extent.

Petrobras operates the BM-CE-2 concession with 60% interest, and BP Energy do Brasil Ltda. has 40%.

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