North Brazil Oil – Deepwater Oil off the State of Pará
Claudio Paschoa
August 12, 2013
Brazil’s Equatorial Margin, which is the country's coastline facing north, has recently had offshore exploration blocks acquired by a number of players during the 11 bidding round in early 2013. One of the states with a coastline on the Equatorial Margin, the state of Pará already has proven reserves established by Petrobras, which has been drilling there since the beginning of the year. More recently it has been established that these reserves are economically viable to be explored commercially. Rumors had it that Petrobras was satisfied by the way the exploration effort was developing. The Harpia exploration well, which began drilling in January 2013 in water depths of 2…