BP Prepares to Drill in Brazil Where Other Majors Have Failed to Find Oil
- BP set to start a well this month at Pau Brasil prospect
- London-based major hasn’t produced oil in Brazil since 2012
This article is for subscribers only.
BP Plc is preparing a deepwater well in Brazil in the latest attempt to break a streak of bad luck by oil majors who have paid billions for exploration rights and have little to show for it.
The London-based major is getting ready to drill at the Pau Brasil field in Brazil’s so-called pre-salt region, BP said in a response to questions. BP has a contract to start using the Valaris DS-15 drillship on March 24 for a daily rate of $410,000, according to information on Valaris Ltd.’s website.