Brazil’s Petrobras has concluded drilling of the first exploration well in the country’s northern equatorial margin in more than a decade, but the final outcome was not what the state-controlled oil company hoped for.

Petrobras encountered traces of hydrocarbons with the drilling of the Pitu Oeste probe in Block BM-POT-17 in the deep-water portion of the Potiguar basin.

However, the amount of oil and natural gas discovered was “inconclusive” towards a potential development.