Published: September 12, 2024 |

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Brazil’s oil giant has reported the discovery of a significant gas resource from a well drilled off shore Colombia in the Caribbean. The Uchuva 2 well is some 32 kilometers from the coast at a depth of 804 meters. This new drill is considered an extension of a natural gas field drilled at the Uchuva 1 well back in 2022, at a depth of 830 meters.

“This well adds relevant information for the development of a new frontier of exploration and production in Colombia, reinforcing the volumetric potential for natural gas in the region. The well is in progress, with five phases, and the gas-bearing interval was verified at phase 4 through wireline logging, which will be further characterized through laboratory analyses,” Petrobras said in a report.

The consortium, constituted by Petrobras as operator (working interest 44.44 percent), in partnership with Ecopetrol (working interest 55.56 percent), will continue operations to complete the project to drill the well to the expected depth and characterize the conditions of the reservoirs found, with the prediction of carrying out a formation test by the end of 2024.

Petrobras’ operations in the Tayrona Block are in line with the company’s long-term strategy, aimed at replenishing oil and gas reserves through the exploration of new frontiers and acting in partnership, ensuring that global energy demand is met during the energy transition.

Petrobras has also set its eyes at the Mopane oil prospect in Namibia where Portugal’s GALP is offering a 40 percent stake. Petrobras’ bid comes as it seeks to boost its reserves, but has faced challenges in obtaining environmental licenses to move forward with exploration in Brazil.

The southwest African nation Namibia has come into the spotlight as a new oil and gas exploration hotspot following several major discoveries in recent years along its coast

Galp wants to sell half of its 80 percent stake in the field, where estimates show at least 10 billion barrels of oil equivalent, according to the firm.

“It’s a competitive process in a sought-after area, with potential to be confirmed. The natural thing in a bid like that is to dilute the risk with partners,” said sources from Petrobras.

Assuming an oil recovery factor of 25 percent of the block’s oil reserves, the 40 percent stake in Mopane could cost around US$4 billion.

Source: MercoPress

Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through three segments: exploration and production; refining, transportation and marketing; and gas and power. The exploration and production segment explores, develops, and produces crude oil, natural gas liquids, and natural gas primarily for supplies to the domestic refineries. The refining, transportation and marketing segment engages in the refining, logistics, transport, acquisition, and exports of crude oil; and production of fertilizers, as well as holding interests in petrochemical companies. The gas and power segment is involved in the logistic and trading of natural gas and electricity; transportation and trading of LNG; generation of electricity through thermoelectric power plants; renewable energy businesses; low carbon services; and natural gas processing business, as well as production of biodiesel and its co-products. The company also engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields, and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons. In addition, it engages in research, development, production, transport, distribution, and trading of energy.

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