Petrobras hits paydirt for third time in ultra-deep Amapá waters as Equatorial Margin’s oil arsenal grows

Brazilian state-owned energy giant Petrobras is closing out its deepwater drilling campaign off Brazil's northern coast with a bang by scoring its third black gold find in the ultra-deep waters off the Amapá coast before moving Foresea’s drillship to the Potiguar Basin.

Petrobras has made a third discovery in block FZA-M-59, located in ultra-deep waters off the coast of the state of Amapá, at a water depth of 2,886 meters, expanding the Brazilian Equatorial Margin’s hydrocarbon resources.

The Brazilian giant emphasizes that the continued evaluation of other intervals of interest, following the discoveries announced in August and early October 2026, allowed the confirmation of this new oil find.

Following the rejection of its license application in May 2023, Petrobras worked with the Brazilian Institute of the Environment and Renewable Natural Resources (Ibama) to secure a license in August 2025 for the drilling of the Morpho well in block FZA-M-59.

Situated in the Foz do Amazonas basin, Morpho lies approximately 175 kilometers off the coast of the state of Amapá.

The firm added: “Petrobras' activities in block FZA-M-59 are aligned with the company's long-term strategy of replenishing its oil and gas reserves through the exploration of new frontiers, contributing to meeting the country's energy demand.”

According to the company, drilling and the acquisition of geological data have been completed at the third oil find, leaving the completion of well operations as the only remaining step.

Afterward, the 2012-built Foresea ODN II (NS-42) sixth-generation drillship will proceed to the Potiguar Basin to embark on its next drilling assignment at the Mãe de Ouro location off the coast of Rio Grande do Norte.