Brazilian state-owned Petrobras has announced a third oil discovery in the deepwater block FZA-M-59 off the coast of Amapa state. A new oil bearing area is found in the Morpho well, which was drilled in the Atlantic Ocean in an area with a water depth of 2886 meters. The previous two openings were announced in August and early October. The company has completed drilling and collecting geological data. The samples obtained must now be studied to estimate the reserves and the possibility of industrial production. Petrobras plans three more exploration wells and is awaiting permits for seven more in the Equatoria Margin area. The head of the corporation, Magda Chambriard, attributes the successive discoveries to the high geological potential of the area. However, the discovery of oil does not in itself confirm the profitability of the field. The drilling is carried out in an environmentally sensitive area at the mouth of the Amazon, so the continuation of development depends simultaneously on the results of the research, costs and new permits.

Brazilian state-owned Petrobras has announced a third oil discovery in the deepwater block FZA-M-59 off the coast of Amapa state. A new oil bearing area is found in the Morpho well, which was drilled in the Atlantic Ocean in an area with a water depth of 2886 meters. The previous two openings were announced in August and early October. The company has completed drilling and collecting geological data. The samples obtained must now be studied to estimate the reserves and the possibility of industrial production. Petrobras plans three more exploration wells and is awaiting permits for seven more in the Equatoria Margin area. The head of the corporation, Magda Chambriard, attributes the successive discoveries to the high geological potential of the area. However, the discovery of oil does not in itself confirm the profitability of the field. The drilling is carried out in an environmentally sensitive area at the mouth of the Amazon, so the continuation of development depends simultaneously on the results of the research, costs and new permits.