The Chinese company CNOOC Limited plans to begin drilling its first exploratory well on the Brazilian continental shelf in the Santos Basin in 2029. The project focuses on little-studied deepwater areas, where major international oil companies are also operating.
Three Seatrium production sites in Brazil have given the company a competitive edge in securing Petrobras contracts for FPSO construction, despite changes in procurement models. Seatrium is adapting to new market conditions by collaborating with partners and focusing on high-quality project execution and sustainable financial results.
The temporary suspension of two Noble Corporation drilling rigs in Brazil due to a regulatory inspection led to decreased revenue and losses in the second quarter. Despite market volatility and reduced activity from Petrobras, the company notes steady demand for deepwater drilling and continues to pursue new contracts.
In the second quarter, Noble Corporation reported a loss of $37 million due to the suspension of operations at two drilling rigs off the coast of Brazil. The company also lowered its revenue and EBITDA forecasts for 2026.
Petrobras continues drilling one of the deepest exploratory wells, Morpho, in the environmentally sensitive Foz do Amazonas basin, overcoming technical challenges and planning further projects in the region.