Coverage sponsorship

Petroborn, a Brazilian independent company focused on the onshore exploration, development, and production of oil and natural gas, plans to invest US$ 35 million in Bahia over the coming years. In the first phase, the company will allocate around US$ 15 million over the next two years, focusing on drilling six wells in the Tucano Sul Basin, three new wells in the Recôncavo Basin, and reentering four wells in the Bela Vista field.

Surface interconnection and storage operations are also planned for this last asset, which Petroborn acquired from oil company Imetame in July 2024. The rights transfer contract with Brazil’s National Petroleum Agency (ANP) is expected to be signed in the coming weeks.

The company estimates that the new gas-producing wells in Tucano Sul will increase current production from 35,000 m³/day to 140,000 m³/day, representing a 300% rise. Meanwhile, the reentry of the Bela Vista oil field is expected to initially yield 300 barrels/day of oil, with potential to reach 1,000 barrels/day in the project’s second phase.

Petroborn began operations in 2015 with the purchase of the Iraí field in the Tucano Sul Basin during the ANP’s 13th Bidding Round.
“This marginal accumulation field has consistently achieved records among so-called Marginal Fields. It holds 2P reserves—proven and probable—certified by Canadian firm Chapman, totaling 218 million m³ of gas, with an NPV10 of US$ 37 million,” says Petroborn CEO Marcos Farina.

Since its founding, Petroborn has consistently invested in expanding its portfolio. In 2020, it acquired a block in the Tucano Sul Basin adjacent to the Iraí field, and in 2022, it acquired two additional blocks in the Recôncavo Basin. The company considers these blocks very promising due to their proximity to two major Petrobras fields—Taquipe and Buracica—which have a successful production history spanning over 50 years.

Petroborn’s assets are concentrated in Bahia, specifically in the Tucano Sul and Recôncavo basins, for strategic reasons. Since these areas are contiguous, the company benefits from greater operational agility and optimized asset management.