AziLat to join Chariot in exploration offshore Brazil

AziLat has signed a farm-in agreement with Chariot Oil & Gas for 25% of four blocks in the Barreirinhas basin offshore northeast Brazil.

Aug 20th, 2014

Offshore staff

HAMILTON, Bermuda – AziLat has signed a farm-in agreement with Chariot Oil & Gas for 25% of four blocks in the Barreirinhas basin offshore northeast Brazil.

Subject to approval by the Brazilian authorities, the company’s subsidiary AziBras Exploracao de Petroleo e Gas will pay 50% of a 3D seismic acquisition program across blocks BAR-M-292, BAR-M-293, BAR-M-313, and BAR-M-314 and related processing costs.

The blocks are 70 km (43 mi) offshore, and cover an area of 768 sq km (296 sq mi) in water depths ranging from 85-1,700 m (279-5,577 ft).

According to AziLat, the Barreirinhas basin has analogues with West African basins offCôte d’Ivoire and Ghana that have delivered numerous large oil and gas discoveries.

AziLat’s sister company AziNam already works with Chariot in exploration acreage offshore Namibia.

08/20/2014

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