Project Profile
Value: Undisclosed
Location: Potiguar basin, off the Ceara state, Brazil
Water Depth: 975 metres
BM-POT-16 block is located in Potiguar basin, off the Ceara state, Brazil.
A well drilled in Brazil\'s equatorial margin in the Potiguar basin had found oil shows but no commercial discovery. The Ararauna well has been drilled to 4,850 metres with Transocean\'s drillship Deepwater Discovery. The probe, started in 975 metres of water off the Ceara state, will continue drilling to 5,300 metres. Another well, Pitu, is planned to come next. The fact that this well proved the existence of an hydrocarbon system increases the potential of finding a new play in the Brazilian Equatorial margin.
BP Energy Brazil acquired a 30% stake in the POT-M-663 and POT-M-760 blocks, which are collectively called BM-POT-16. BP secured BM-POT-16 contract as part of the Brazil Round 7 in 2005. After regulatory approvals, BM-POT-16 will be explored by a consortium formed by Petrobras (30% operator), BP (30%), Petrogal Brasil S.A. (20%) and IBV (20%). (July, 2016)
Under licence BM-POT-16, the appraisal plan for the Araraúna prospect includes an exploration well and the acquisition of 8,695 km2 of 3D seismic data up to 2018.
Operators:
Consortium
Petrobras: Operator with 30% interest
BP: 30% interest
Petrogal Brasil S.A.: 20% interest
IBV Brasil: 20% interest
Contractors:
Transocean: Drilling services using the drillship Deepwater Discovery