(WO) – Petro-Victory Energy Corp. has commenced drilling operations on the SJ-12 well at its 100%-owned São João field in Brazil’s Barreirinhas basin, Maranhão state. The well fulfills a previously announced single non-associated gas drilling commitment under a memorandum of understanding disclosed earlier by the company.
The SJ-12 well targets non-associated gas resources identified in an independent reserve and resource report prepared by GLJ Ltd., effective Dec. 31, 2024. The report assigns 50.1 Bcf (1.4 Bcm) of risked best-estimate development pending contingent resources to the São João field.
According to the company, drilling and testing of SJ-12 are intended to confirm deliverability and support plans for initial gas commercialization in the region. Potential development pathways include supplying regional industrial users and power generation markets, along with other commercialization structures suited to non-associated gas developments of this scale.
The São João field was previously discovered and tested by a former operator. Petro-Victory now holds a 100% working interest and operatorship. The company noted that all field activities remain subject to applicable regulatory approvals.
Petro-Victory’s broader Brazilian portfolio currently includes 49 concession contracts covering approximately 276,755 net acres. The company also holds interests in an additional six concessions totaling 19,074 acres through its Capixaba Energia joint venture with BlueOak.
The Barreirinhas basin is an onshore sedimentary basin in northeastern Brazil that has seen renewed exploration interest in recent years, particularly for gas-prone prospects. Development of domestic gas resources has gained increased attention as Brazil seeks to expand regional supply and support industrial demand growth.
If successful, SJ-12 would represent a key step toward advancing commercial gas production from São João and strengthening Petro-Victory’s position within Brazil’s onshore gas sector.
