Petronas readies maiden exploration campaign off Brazil
Malaysian oil company to debut in Brazil's exploration arena with ultra-deepwater probe in the Campos basin
Malaysia’s national oil company Petronas has started preparations to run its first wildcatting programme offshore Brazil following the acquisition of a pair of ultra-deepwater exploration blocks last year.
Petronas submitted an environmental study to federal regulator Ibama seeking a drilling licence to spud up to four wells in Block C-M-661, on the fringe of the pre-salt polygon, in the prolific Campos basin.
Petronas won the block in the 16th licensing round held in October 2019 after fending off strong competition from European supermajors Shell and BP, with a bid that included a signature bonus worth about $272 million.
The company did not name the prospects to be drilled in the environmental permitting process, saying their exact locations and respective engineering projects will be determined after it analyses 3D seismic data from the area.
Petronas has a firm commitment to drill one well in C-M-661 and has earmarked the drilling campaign to take place in the third quarter of 2022, using a rig equipped with a dynamic positioning system.
“The timeline of the remaining prospects will depend on the results of the first well,” Petronas said in a permitting document obtained by Upstream.
According to Petronas, drillstem tests may be carried out at each well for a better understanding of the reservoir in case of any material discovery.
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On top of chartering a rig for the planned campaign in water depths of approximately 3000 metres, Petronas said it will also require three offshore support vessels to assist in operations.
In a separate document to Ibama, Petronas also indicated it plans to drill an exploration well in Block C-M-715, also in the ultra-deepwater section of the Campos basin, in the second quarter of 2023.
The licence was acquired by Petronas in the same bid round and also carries a commitment to drill one well.
Petronas intends to submit a separate environmental study for C-M-715 at a later date, as the company is looking first to collect data from a baseline survey campaign eyed for C-M-661 and set to occur in mid-2021.
The proposed plan for C-M-715 may cover the drilling of the firm well in 2023, plus two contingent probes.
In Brazil, Petronas — headed by chief executive Tengku Muhammad Taufik Tengku Aziz — is currently producing about 41,600 barrels per day of oil through its 50% working interest in the Petrobras-operated Tartaruga Verde field.
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