While operators in Brazil are turning their attention to new exploration drilling in the deep waters of the prolific Campos basin, hope remains there is still room for big discoveries in the Santos basin.

US supermajor ExxonMobil has a well commitment for the region and intends to spud the Titan pre-salt prospect in the Tita production sharing contract in the first half of 2021.

Auctioned off nearly two years ago, Tita was acquired before the recent batch of lacklustre results in the Santos pre-salt and is adjacent to the Saturno area, where Anglo-Dutch supermajor Shell a few months ago had an unexpected setback with a dry hole.