Drilling seeks to identify oil reservoirs; state-owned company says the area’s potential will only be assessed after new wells
The executive director of Exploration and Production at Petrobras, stated this Friday (March 6, 2026) that the state-owned company intends to conclude in the 2nd quarter of 2026 the drilling of the 1st exploratory well in the Brazilian Equatorial Margin, considered one of the country’s new oil exploration frontiers.
The well, called Morpho, is about 175 km off the coast of Amapá. According to the director, drilling is underway and the expectation is to reach the reservoir this semester.
“Drilling is underway, with the installation of the Blowout Preventer. The expectation is to reach the reservoir in the 2nd quarter of 2026”, he stated during the state-owned company’s results presentation.
According to the executive, the region has relevant geological potential. Unlike the pre-salt areas, where the oil is below a layer of salt, the Equatorial Margin has turbidite-type reservoirs, similar to those found in the Campos Basin, a traditional oil province located on the Southeast coast.
The director stated, however, that drilling a single well is not enough to assess the area’s potential. According to her, experience in other basins shows that confirming reserves depends on the drilling of several wells and a broader analysis of exploratory results.
SETTLEMENTS
At the beginning of February, the (Brazilian Institute of the Environment and Renewable Natural Resources) imposed a fine of R$2.5 million on Petrobras for a fine registered on January 4th during activities related to the operation.
The state-owned company stated that the material released was biodegradable and is part of the technologies used to make drilling viable.
In March, the (National Petroleum, Natural Gas and Biofuels Agency) fined Petrobras for failures in safety procedures on the NS ODN-II probe, which drills a well in the region.
The irregularity was identified during an inspection carried out from February 2 to 6, 2026. According to the agency, the audit verified compliance with the rules of the installation’s Operational Safety Management System, required by ANP resolution no.
The pumps are part of the vessel’s emergency system and are used to contain fires in the event of accidents during drilling operations.
Petrobras will have to correct the irregularities within periods ranging from 30 to 90 days, depending on the severity of the failures. With the notice, the company has 15 days to present an administrative defense.
After this stage, the process will be analyzed by the ANP board, which may impose a fine of R$5,000 to R$2 million.
