THE Brazilian National Petroleum Agency (ANP) has given Petrobras more time to carry out additional exploration activities on two deep-water blocks in the Espirito Santo basin.

Petrobras has been prioritising cash to develop its huge pre-salt discoveries in the prolific Santos basin, and is facing budget cuts to cope with the prolonged oil price scenario.

In Block BM-ES-23, the area informally known as Parque dos Doces, the ANP has authorised Petrobras to postpone the drilling of an appraisal well at the Brigadeiro light oil find by three years to July 2019.