Asset Report
Aram
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The Aram Block was awarded to Petrobras (80% and operator) in a consortium with CNPC (20%) at the minimum profit share (29.96%) at the sixth pre-salt auction held on 7 November 2019. Located in the Santos Basin, the block had the largest acreage and the highest signature bonus in a Brazilian PSC round (US$1.25 billion). In January 2022, Petrobras made a discovery notification of hydrocarbon shows and gave the go-ahead for the appraisal campaign. In 2023, a well test revealed a fluid of excellent quality with low levels of contaminants. We presume Aram to be one of the last major discoveries in this play, potentially holding around 1.3 billion barrels of recoverable resources. The first decision gate (DG1) related to the field development is planned for Q4 2025. We model Aram starting production in 2033.
Table of contents
- Summary
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Key Issues
- Appraisal drilling campaign underway
- Wells
- Facility
- Liquids
- Gas
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Operating costs
- Lease cost
- Oil
- Gas
Tables and charts
This report includes the following images and tables:
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Table: Capital CostsCash flow (US$ million)Chart: Split of Revenues
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Cumulative Net Cash Flow - UndiscountedRemaining Revenue Distribution (Discounted at 10% from 01/01/2026)Chart: Remaining PV Price SensitivitiesIndex MapDetail MapCurrent participationTable: Well DataContingent Resources (2C) at 01/01/2026Production (2032-2041)
- 2 more item(s)...
What's included
This report contains:
