The current acquisition polygon has an approximate area of 47,568 km², starts at a water depth of 300 meters, and covers mostly the Ceará basin as well as a small portion of the Potiguar basin. According to the project’s schedule, activities should commence in September 2024, expected to be completed in approximately 500 days.
Ceará deep waters have not been explored yet, with only 5 wells drilled, some with hydrocarbon shows but noncommercial. The basin hasn’t been producing since 2020, when all fields operated by Petrobras (on shallow waters) had their production halted due to the pandemic. Later they were put on their divestment program, but no final contract was signed, and the assets are now on relinquishment process. It is also worth noticing several open acreage blocks in the area.