PETRONAS Petróleo Brasil Ltda. (PPBL), a subsidiary of PETRONAS has announced its first oil discovery in 4-BRSA-1386D-RJS well in the pre-salt Sépia oil field.

The well is located in the prolific Santos Basin, about 250 km off the coast of Rio de Janerio, at a water depth of about 2,000 meters. The net oil column is one of the thickest ever recorded in Brazil.

This significant discovery was made within the Sépia Co-Participated Area, which covers the Sépia Transfer of Rights (ToR) contract (Petrobras, 100%) and the Sepia ToR Surplus Production Sharing Contract awarded to Petrobras (30%), TotalEnergies (28%), QatarEnergy (21%) and PBBL (21%), with Pré-Sal Petróleo S.A. (PPSA) as manager. PPBL and its consortium partners won the Sépia ToR Surplus Production Sharing Contract during Brazil’s Second Transfer of Rights Surplus Bidding Round held in Rio de Janeiro in 2021.

PETRONAS’ Exploration Vice President, Mohd Redhani Abdul Rahman said, “We are extremely encouraged with this notable discovery in one of the world’s most prolific basins. PETRONAS and partners will continue to work closely, alongside the Host Government, to unlock more value creation and achievements together.”

“PETRONAS will also continue its decarbonisation efforts to sustainably develop and monetise the Sépia field, while strengthening our portfolio in the country. This is in line with our global growth strategy,” he added.

PPBL currently has participating interests in the Tartaruga Verde (BM-C-36 Concession) and Module III of the Espadarte (Espadarte Concession) deepwater fields located in the Campos Basin, offshore Brazil, and holds participating interests in three other deepwater exploration blocks in the Campos Basin (C-M-661, C-M-715 and C-M-541).

About Petronas

Established in 1974, Petroliam Nasional Berhad (PETRONAS) is a global energy and solutions company, ranked amongst the largest corporations on Fortune Global 500®️. As an integrated global LNG producer with over 37 years of experience, PETRONAS provides an uninterrupted supply of LNG to more than 25 countries around the world. PETRONAS has safely delivered more than 11,000 cargoes globally, sourced from its portfolio of facilities located in Malaysia, Australia and Egypt. PETRONAS is also the first global energy player to introduce the floating LNG concept in 2016, the PFLNG SATU, and introduced its deep-water FLNG, the PFLNG DUA, in 2021.