Petrobras discovers signs of oil in a well in the Foz do Amazonas basin

Although confirmation still depends on tests, members of the state-owned company say the probability that it is oil is high.

According to the company, the discovery was confirmed through electrical profiles and indicators identified in the rocks. The drilling of the well is still in progress, and the state-owned company states that the operations aim to continue the exploratory assessment of the area.

"Our optimism regarding the equatorial margin is confirmed today", said, in a statement, the president of Petrobras, Magda Chambriard.

The executive told Reuters that the discovery is not yet commercial, but it means a step forward in the search for replenishing reserves from 2034-2035, when the pre-salt is expected to reach its production peak and begin to decline. "We will continue the work there to see commerciality."

The presence of hydrocarbons does not guarantee that there is a commercial reservoir of oil or gas. The assessment generally requires the drilling of other wells to delimit the reserves.

Petrobras, the government and private oil companies operating in the country see the region as the main frontier for new oil discoveries in Brazil, helping to replace the decline in pre-salt reserves, today the main producing area.

In a statement, the IBP (Brazilian Petroleum Institute), which represents large oil companies operating in Brazil, such as Petrobras itself, ExxonMobil, TotalEnergies, Shell and Equinor, said that the discovery "confirms that Brazil has very positive prospects for the production of oil and natural gas in other regions, reinforcing national energy security in the medium and long term".

The Morpho well is located approximately 175 km off the state coast, in an area with a water depth (distance between the surface and the seabed) of 2,886 meters. The region is the target of clashes between the government and environmental organizations.

The discovery occurred in block FZA-M-59, on the Brazilian equatorial margin, where Petrobras is the operator and holds a 100% stake.

"Drilling operations remain ongoing, aiming to continue the exploratory assessment, in a safe manner and with respect for the environment and people," the company said in a statement.

The sector began to invest in the region's potential after oil discoveries in Guyana, which has geological characteristics similar to those of the Brazilian equatorial margin.

Petrobras stated that its operations in the block are part of its strategy to restore oil and gas reserves through exploration in frontier areas. According to the company, the initiative seeks to contribute to meeting national energy demand during the energy transition.

The FZA-M-59 block was acquired by Petrobras in the 11th Bidding Round of the ANP (National Agency for Petroleum, Natural Gas and Biofuels), held in 2013, under the concession regime.

The president of the Senate, Davi Alcolumbre (União-AP), celebrated the discovery. "We fight for the right to research the equatorial margin and learn about our riches. We fight so that, if exploration is possible, this wealth is transformed into employment, income, opportunities and quality of life for the people of Amapá and contributes to the development of Brazil", he said in a statement.

The drilling of Morpho had one of the most turbulent environmental licensing processes in the country, with back and forth and attacks on the technical area of Ibama (Brazilian Institute of the Environment and Renewable Natural Resources), which even recommended the process be archived.

The institute finally granted the license in October 2025, under pressure from President Luiz Inácio Lula da Silva (PT). The document was issued on the eve of COP30, in Belém, and became the target of organizations present at the event.

For environmentalists, the opening of new frontiers for oil production contradicts warnings from scientists about the need to reduce the burning of fossil fuels to combat climate change.

The government argues that Brazil cannot give up exploring its subsoil riches. At the COP, two months after authorizing drilling, Lula unsuccessfully proposed the approval of measures to reduce fossil consumption.

Morpho is the first in block 59 to be prospected by the state-owned company, which has already requested Ibama, responsible for licensing, to drill three more wells in the same area: PAD-Morpho, Manga and Crotalus.

In the case of these three additional wells, the federal environmental agency requested more data before granting authorization. Licensing documents show that Ibama has not, until now, opposed the extension of exploration in search of oil in this part of the Amazon coast.

Last week, the state-owned company released results for the first full quarter under the effect of the rise in oil prices after the start of the war in Iran. Net profit was R$52.4 billion, almost double (97% more) compared to the same quarter of the previous year. It was the best result since the second quarter of 2022, amid the conflict in Ukraine.

Due to its performance, Petrobras announced the distribution of R$17.4 billion in dividends to its shareholders. The federal government, the majority shareholder, will be entitled to R$6.2 billion, including shares from public banks and pension funds.

Petrobras' results in the quarter were driven by the rise in oil prices and record oil and gas production. The average price of Brent rose 54.1% compared to the same quarter of the previous year, to US$ 104 per barrel. Production increased by 14% to 3.34 million barrels of oil equivalent per day.

In July, Petrobras informed Ibama (Brazilian Institute of the Environment and Renewable Natural Resources) that it will permanently abandon the Morpho well, and not a temporary abandonment, which