RIO DE JANEIRO – The National Agency of Petroleum, Natural Gas and Biofuels (ANP) has approved the Production Individualization Agreement for the Atapu and Sépia accumulations in the Santos basin offshore Brazil.
According to operator Petrobras, the agreement covers instances where reservoirs extend beyond the areas granted or contracted, according to ANP regulations.
The Atapu Joint Reservoir comprises:
• Transfer of Rights Agreement BM-S-11A (Oeste de Atapu field), operated by Petrobras (42.5%), in partnership with Shell (25%), Total (22.5%) and Petrogal Brasil (10%)
• The Entorno de Iara block of the Transfer of Rights Agreement (Atapu field), operated by Petrobras (100%)
• The Non-Contracted Area belonging to the Federal Union, represented by Pre-Sal Petróleo - PPSA.
Shares of each party in the Atapu joint reservoir are: Petrobras (operator) 89.257%, Shell Brasil 4.258%, Total E&P Brasil 3.832%, Petrogal Brasil 1.703%, and Pré-sal Petróleo - PPSA 0.950%.
The Sépia Joint Reservoir comprises:
• The Transfer of Rights Agreement BM-S-24 (Sépia Leste field), operated by Petrobras (80%), in partnership with Petrogal Brasil (20%)
• The Nordeste de Tupi block of the Transfer of Rights Agreement (Sépia field), operated by Petrobras (100%).
The shares of each party in the Sépia joint reservoir are: Petrobras (operator) 97.586% and Petrogal Brasil S.A. 2.414%.
Both agreements set out the rules for the joint execution of production development and oil and natural gas production in the joint reservoir.