Posted by bp is preparing to begin their drilling operations in Pau Brasil block, Santos Basin, at a water depth of approximately 2,300 meters. The operation shall be carried out by the drillship Valaris Renaissance, which is already on site. According to technical documents from IBAMA, the company plans to drill at least one exploratory well, with two additional wells also included in the license, depending on the results of the initial drilling.
The last drilling conducted by bp as an operator took place in 2013, when well 3-BP-11-RJS was drilled in block C-M-473, which was later relinquished in 2017. This time, the main challenge faced by the British multinational should be the high CO2 content which already resulted in two relinquishments in the area (Peroba in 2021 and Três Marias earlier this year) and is currently delaying the development of Jupiter (operated by Petrobras).
Pau Brasil block was acquired by bp in 2018 during the 5th Production Sharing Round, in a consortium with CNOOC Petroleum (30%) and Ecopetrol (20%), for a R$500 million bonus and 63.79% of surplus oil.