Exploration/discoveries

Petrobras Plans Equatorial Margin Drilling Program

State-run company will direct $2 billion towards frontier drilling in the area.

Brazil flag over skyline

Petrobras is preparing to drill the first of 14 planned wells at South America’s new deepwater frontier, the Equatorial Margin at its Northern maritime border, a company executive told the World Petroleum Congress in December.

Petrobras plans to invest $2 billion in exploration at the Equatorial Margin through 2026, Reservoir Executive Manager Tiago Homem said. The company estimates an overall investment of $2.5 billion in seismic activities over the same period.