Petrobras has discovered oil and natural gas deposits in the ultra-deepwater Campos basin. The find was made at the Ruba prospect, drilled in Block C-M-477 in water depths of 2,984 meters, approximately 201 kilometers off the coast of Rio de Janeiro.

Exploration and Discovery Details

The presence of hydrocarbons was confirmed through electrical logs, gas indications, and fluid sampling. The collected samples are to be sent for laboratory analysis to characterize the reservoir and the fluids encountered. This discovery is part of Petrobras's intensified exploration activities in its main producing clusters to unlock additional reserves and follows another recent pre-salt find in the Campos basin's Marlim Sul field.

Block Ownership and Acquisition

Block C-M-477 is operated by a consortium. Petrobras holds a 70% stake, with BP holding the remaining 30%. The consortium acquired the block in October 2019 during Brazil's 16th licensing round, agreeing to pay a signature bonus of approximately $500 million, which was nearly 20 times the proposed price tag.