The discovery is the first successful drilling in the basin since 2015. Petrobras owns 100% of the block and will drill 3 more wells to determine the total scale of the reserves. President Lula has described the deposits on the equatorial shelf as potentially immense in scale and superior to the country's pre-salt reserves, although the company has not issued official reserve figures.
Tuesday, October 20, 2026
Story
Petrobras Finds Second Oil Zone at Morpho Well Off Brazil
Commodities18 days ago
Recent operations in the Foz do Amazonas basin have hit an oil-bearing layer in block FZA-M-59, confirming the viability of the frontier area. Petrobras verified the find as a second oil zone at the Morpho well using well logs, rock samples, and fluid samples at a site 175 km off the coast of Amapá in 2,886 m of water. Preliminary tests on the current and August discoveries indicate the presence of high quality light crude, though lab work on the latest samples is ongoing.
Looking for more context or analysis?
Tilt chat provides reliable, tailored insights, alerts, and automations.