Equatorial Margin seismic results ready for Round 11 leases offshore Brazil
Spectrum has completed processing the final phase of its Equatorial Margin long offset 2D campaign for Round 11 offshore Brazil.
HOUSTON –Spectrum has completed processing the final phase of its Equatorial Margin long offset 2D campaign for Round 11 offshore Brazil. The data for the 4,133 km (2,568 mi) Potiguar basin survey is available for use in evaluating the six blocks to be offered in the Potiguar basin for Round 11
With the completion of the Potiguar survey, Spectrum now has in excess of 38,000 km (23,612 mi) of new long offset 2D data available to assist industry in evaluation of the blocks on offer for round 11 offshore Brazil.
This comes on the heels of a presentation in Houston by the Brazilian National Agency of Petroleum, Natural Gas, and Biofuels (ANP) detailing the plans for Bidding Round 11. In summary, 289 blocks will be offered, 166 of them offshore.
Speaking at the presentation, Magda Chambriard, general director of ANP, said Brazil’s president has approved plans for three different bid rounds in 2013, starting with the 11th round in May to be followed by the 12th round in October and the 13th in November. The May round covers acreage both onshore and offshore, the 12th round will be predominately onshore gas, and the 13th round will be offshore presalt prospects.
In the coming presalt round, Chambriard said the bidding will be on aproduction sharing contract basis and the percent of profits offered would be the main determining factor. Also, Petrobras will be the operator with 30% interest. If Petrobras wants a larger percentage, it will have to bid just like any other company.
The Equatorial Margin is expected to be an active area in the future, said Helder Queiroz, director, ANP, in discussing the prospects contained in the 11th round acreage. It is similar to the Gulf of Mexico subsalt geology, he added.
The bid schedule for this 11th round is compressed into five months rather than the usual six month period, said Claudia Rabello, bidding round superintendent of ANP, and bidders should be attentive to the deadlines or risk being rejected, she said. Particular attention should be directed to the March 26 final deadline for expression of interest and qualification/capacity documents. That is followed by the April 26 deadline for submission of bid bonds. The submission of bids will be May 14-15, and signing of concession contracts will take place in August.