Brazilian state-owned firm Petrobras has discovered hydrocarbons in Block C-M-657, in the ultra-deep waters of the Campos basin offshore Brazil.

The 1-BRSA-1376D-RJS (Naru) exploration well is located 308km from Rio de Janeiro. It is present at a water depth of 2,892m.

In a press statement, Petrobras stated: “The well data will be analysed to better assess the potential and direct the exploratory activities in the area.

“Block C-M-657, acquired in March 2018, in the 15th bidding round of the National Agency of Petroleum, Natural Gas and Biofuels (ANP), under the Concession regime, is in the southern portion of the Campos Basin.

Petrobras is the operator of the C-M-657 block and owns a 30% stake in it. Other partners include ExxonMobil (40%) and Equinor (30%).

Petrobras recently decided to reduce its expenditures for oil exploration and production for the next four years due to the ongoing Covid-19 crisis.

Last month, Petrobras awarded three contracts to Solstad, Oceanpact and Fugro to provide remotely operated vehicle (ROV) services for subsea activities in the Brazilian waters.

In July, Petrobras started decommissioning works on the P-12 platform in the Campos Basin offshore Brazil.