US$ 15 million will be allocated over the next two years for asset development, and US$ 20 million for new acquisitions
Por Fernanda Legey
The Petroborn Óleo e Gas, S.A. group plans to invest US$ 35 million in the coming years in activities in Bahia, CEO Marcos Farina told Brasil Energy during the Bahia Oil & Gas Energy 2025 conference, held May 28-30 in Salvador. Petroborn is an independent Brazilian oil and gas exploration, development, and production company headquartered in Rio de Janeiro, with operations in Bahia.
The first phase of investment amounts to US$ 15 million and will include the development of the company’s assets over the next two years. Activities include drilling six wells in the Tucano Sul Basin, three new wells in the Recôncavo Basin, and reentering four wells in the Bela Vista field.
Additionally, there are plans for storage operations and surface interconnections in Bela Vista. Acquired from Imetame by Petroborn in July 2024, the rights transfer contract with Brazil’s O&G Regulator (ANP) is expected to be signed in the coming weeks, Farina said.
The new Tucano Sul wells are expected to increase gas production from 35,000 m³/d to 140,000 m³/d. Meanwhile, the reentry at the Bela Vista field will initially enable production of 300 bpd of oil, potentially reaching 1,000 bpd in the second phase of the project. After consolidating the development of these assets, the company plans to invest about US$ 20 million in new acquisitions. According to the CEO, there is a pipeline of opportunities currently under negotiation.
When asked about mergers and acquisitions (M&A), Farina stated that it is on the company’s radar. “We are seeing many opportunities emerging, both for farm-in deals and for M&A,” the executive explained.
Portfolio
Petroborn holds five assets in its portfolio, with the first acquisition being the Iraí field (Tucano Sul Basin) in the 13th ANP Bidding Round in 2015. In 2020, the field reached its production peak (75,000 m³/d), after which the company decided to invest in an additional asset. That same year, Petroborn acquired block TUC-T-172, located adjacent to Iraí, during the 2nd Permanent Offer. In 2022, the company purchased two blocks in the Recôncavo Basin—REC-T-103 and REC-T-165—located next to two Petrobras fields (Taquipe and Buracica). Finally, in 2024, it acquired the Bela Vista field.
See the full interview with Petroborn CEO Marcos Farina (in Portuguese):
https://youtu.be/zpwn-AVLdjM