Devon Energy has informed ANP (Brazil´s National Petroleum Agency), that it has discovered indications of hydrocarbons in block CM-471 at the Campos Basin. This block is operated by Devon in a 50%/50% partnership with Brazil´s national operator Petrobras.
Block CM-471 was acquired by Devon and Petrobras back in 2005, during ANP´S 7th round of bidding along with block C-M-473, both making part of block BM-C-34. Earlier this year Devon had disclosed the existence of potential O&G reservoirs in the adjacent block BM-C-32.
Devon plans to extend the drilling in both blocks down to the pre-salt depths. Well 6DEV18PRJS in block CM-471 is located at a depth of 2,484 meters, being one of the deepest of the deepwater wells in Brazil.
The American company operates block BM-C-8, known as Polvo, which has been in production since 2007, being the first international company to produce in Brazil without a Petrobras participation.
Devon had earlier announced its intent to sell its assets in Brazil to British Petroleum (BP), but the transaction still awaits authorization from ANP. There have been persistent rumors that the deal may not go through because of the Deepwater Horizon accident at the GOM, which has placed BP in the spotlight in a negative way. According to ANP sources, the GOM accident should not directly interfere in the sale authorization process, but it remains to be seen if BP still has the resources or interest to use resources for the acquisition and if Devon still intends to go through with the sale.
Devon holds interests in 10 offshore and two onshore blocks in Brazil, including seven as an operator. The company has joined with Petrobras, on six of these blocks to explore in Brazil's most promising offshore areas.
E&P areas in Brazil
Campos Basin
Campos comprises 87 percent of all production of national crude oil, the largest Brazilian oil reservoir.
Polvo Field
Located about 60 miles from the coast of Armacão de Búzios in Rio de Janeiro (one of the most beautiful peninsulas in the state of Rio de Janeiro, known for its beautiful beaches and great diving), the Polvo field was Devon's first commercial production project in Brazil.
Xerelete Field
Xerelete is a partnership with Petrobras. It is located 96 miles from the city of Cabo Frio, and holds much promise for future exploration.
Camamu-Almada Basin
Located on the south coast of the State of Bahia, the basin's deep waters are considered the new frontier of Brazilian deepwater O&G exploration.
Barreirinhas Basin
The Basin of Barreirinhas is located on the Brazilian equatorial margin along the coast of the State of Maranhão, north Brazil. The drilling vessel, Deepwater Discovery, began operations there in January 2009.
Parnaiba Basin
Located in the State of Maranhão, the Parnaiba Basin contains Devon's only two onshore blocks in Brazil.
Deepwater Exploration
In January 2009, Devon began an extensive offshore exploration drilling program in Brazil as operator of the Transocean Deepwater Discovery. The Deepwater Discovery is a fifth-generation, dynamically positioned drillship capable of operating in water depths of up to 10,006 feet.
Claudio Paschoa
Photo courtesy of Devon Energy