Petro-Victory begins Potiguar basin drilling
Petro-Victory Energy Corp. has started drilling the AND-5 well at Andorinha field in the Potiguar Basin, Rio Grande do Norte, Brazil.
The well is aimed at the Açu and Alagamar formations at a targeted total depth of about 1,177 m. the company said in a release June 23.
Drilling of the well, which began June 20, has started the first of two fully funded drilling programs in Andorinha field under Petro-Victory's partnership with Azevedo & Travassos Energia (ATE) (OGJ Online, June 24, 2024).
Under the 2024 agreement, ATP will pay 100% of the work program which initially consists of drilling and completing AND-4 and AND-5 wells in Andorinha field as well as a workover in the CR-2 well in POT-T-281 block.
Petro-Victory holds a 100% interest in and operation of 34 blocks and three fields in the onshore Potiguar basin in the northeast region of Brazil.