Repsol YPF won three blocks yesterday in Brazil's seventh hydrocarbon exploration licensing round. The licensing round, which kicked off yesterday, saw a record number of E&P companies vying for 625 offshore blocks.
Offshore staff
(Brazil)-Repsol YPF won three blocks yesterday in Brazil's seventh hydrocarbon exploration licensing round. The licensing round, which kicked off yesterday, saw a record number of E&P companies vying for 625 offshore blocks.
The three blocks won by Repsol include a 100% operatorship of the ES-M-737 deepwater block in the Espírito Santo basin and 50% stake in the C-M-536 block in the Campos basin, with Norwegian company Statoil winning the remaining 50%. The last award was for the ES-M-665 block in Espírito Santo as minority partner with 40%. The remaining 60% went to Amerada Hess.
Repsol bid unsuccessfully as operator for two blocks, which went instead to a consortium made up of federal energy company Petrobras and US oil company Devon Energy.
Repsol is adding to its stake in Brazil, in which it already has interests in eight exploration blocks. It has minority interest in five blocks in the Santos basin, two blocks in the Campos basin and a 20% stake of one block in the Espírito Santo basin owned by Petrobras.
