Petrobras Strikes Hydrocarbons at the Aram Block Offshore Brazil

Petróleo Brasileiro S.A. - Petrobras PBR recently made a significant hydrocarbon discovery in the Santos Basin’s pre-salt Aram block.The discovery was made at 4-BRSA-1395-SPS, an exploratory well located 245 kilometers from Santos at a water depth of 1,759 meters. Petrobras confirmed the presence of hydrocarbons via different methods, such as wireline loggings, gas shows and fluid sampling. Laboratory analysis will further assess the full potential of the reservoir and guide future exploration efforts.An Insight Into the Aram BlockThe Aram block acquired in March 2020 in the 6th Bidding Round of the National Agency for Petroleum, Natural Gas and Biofuels (ANP) is considered a vital asset in Petrobras’ pre-salt portfolio. The block is acquired under the Production Sharing regime, with Pre-Sal Petróleo S.A. as manager. The consortium operating the block includes Petrobras holding the 80% operating interest, with China National Petroleum Corporation (CNPC) holding the remaining 20%.Aram and Alto de Cabo Frio Central blocks were the only commercial discoveries in the basin announced since 2019. Aram is one of the last discoveries in this play, potentially holding around 1.3 billion barrels of recoverable resources.Strengthening Petrobras’ Pre-Salt StrategyPetrobras has developed a strategy to form new reserves while launching major revitalization projects to optimize production from existing fields. As it continues to drill in the Aram block, the discovery highlights Brazil’s position as a global leader in offshore oil and gas production. The company remains committed to advancing its pre-salt exploration and maximizing resource recovery for long-term energy security.Why is This Discovery Important for Brazil?After the discovery of the pre-salt Aram block in 2006, around 80-140 hydrocarbon finds were reported annually. However, it started falling in 2013 and the conditions in 2014 worsened as the oil price plummeted globally. The scenario raised concerns about the replenishment of national-proven hydrocarbon reserves in Brazil. As a result, Brazil has been looking for approval from its environmental regulators to approve oil drilling near the Amazon River to finance a transition to green energy.However, the latest hydrocarbon discovery by Petrobras in the western region of the Búzios field in the pre-salt Santos Basin will help Brazil ease the pressing matter of acquiring approval to drill near the Amazon River.PBR’s Zacks Rank and Key PicksHeadquartered in Rio de Janeiro, Petroleo Brasileiro S.A., or Petrobras S.A., is the largest integrated energy firm in Brazil and one of the largest in Latin America. Currently, PBR has a Zacks Rank #3 (Hold).Investors interested in the energy sector might look at some top-ranked stocks like Delek Logistics Partners, LP DKL, Archrock, Inc. AROC and Canadian Natural Resources Limited CNQ. While Delek Logistics and Archrock currently sport a Zacks Rank #1 (Strong Buy) each, Canadian Natural carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Delek Logistics Partners owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets. The Zacks Consensus Estimate for DKL’s 2025 earnings indicates 34.45% year-over-year growth.Houston-based Archrock is a provider of natural gas contract compression services as well as a supplier of aftermarket services for compression equipment. The Zacks Consensus Estimate for AROC’s 2025 earnings indicates 46.67% year-over-year growth.Calgary-based Canadian Natural Resources is one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas. The Zacks Consensus Estimate for CNQ’s 2025 earnings indicates 5.53% year-over-year growth.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Petroleo Brasileiro S.A.- Petrobras (PBR): Free Stock Analysis Report Canadian Natural Resources Limited (CNQ): Free Stock Analysis Report Delek Logistics Partners, L.P. (DKL): Free Stock Analysis Report Archrock, Inc. (AROC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks