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Crude Oil

Petrobras Cuts Plans for Deepwater Exploration Drillings of Brazil

| Editor: Dominik Stephan

Petrobras tanker leaving a Brazilian harbour. The country has become an independent producer of heavy crudes, yet still imports lighter crudes for the processing of domestic oil.
Petrobras tanker leaving a Brazilian harbour. The country has become an independent producer of heavy crudes, yet still imports lighter crudes for the processing of domestic oil. (Picture: Petrobras)

Brasil's oil giant Petrobras reduces its exploration activities: The company has cancelled rocess of contracting five leased ultra-deep water drilling rigs from the Ocean Rig Group. It seems that the company has sufficient productive wells in the area...

Rio de Janeiro/Brazil – Today, Petrobras has cancelled the process of contracting five drilling rigs, capable of drilling in up to 3,000 meters of water, with the Ocean Rig Group. This decision is based on the reduction of future needs for drilling, due to a fewer number of wells expected to be drilled in the pre-salt Santos Basin, relating to a higher productivity gained through the project wells in that area.

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