Phoenix to assess Brazil onshore discovery
Brazilian oil and gas firm Phoenix Óleo e Gás submitted a discovery evaluation plan for a prospect in block POT-T-565 to the country's oil and gas regulator ANP.
The block is located in Potiguar basin.
The plan involves a long duration test at well 1-PHO-1-RN to determine volumes and production potential, and the economic viability of this area of the field.
According to Phoenix, the discovery presents a “modest area of occurrence” due to the advanced basin maturity.
The plan aims to obtain production synergies with the Concriz field, which is also operated by the company.
With an area of 14.6km2, block POT-T-565 was acquired by Phoenix in the first open acreage round in 2019.
The current exploratory phase has a five-year duration that ends in February of 2025.
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