Petrobras joins Gabon pre-salt search

Petrobras is set to farm into two production-sharing contracts (PSCs) offshore Gabon.

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Offshore staff

LONDON – Petrobras is set to farm into two production-sharing contracts (PSCs) offshore Gabon.

The company has agreed to acquire 50% of Ophir Energy’s interests in the PSCs, covering the Mbeli and Ntsina blocks. Petrobras also has the right to assume operatorship in both cases. In return, the company will provide a promoted contribution towards the cost of an agreed work program.

Initially, the partners will acquire at least 2,000 sq km (772 sq mi) of 3D seismic data. The acquisition and processing parameters will be designed to image deep pre-salt potential not previously explored in the area.

After completion of the initial program, Petrobras may opt to make a promoted contribution toward the first two exploration wells, or withdraw from the PSCs. It also has the right to assume operatorship in both cases.

Petrobras said the transaction was part of its strategy to step up assessment of the pre-salt section along the Atlantic basins. “The Coastal Basin of Gabon is located in an operation focus area for Petrobras – the west coast of Africa. The region has geological structures considered comparable to those discovered in Brazil and has great potential for the discovery of significant volumes of oil in fields located in deep waters.”

06/17/2011

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