Petrobras, ExxonMobil secure prime deepwater Brazil blocks

Petrobras has acquired six offshore blocks in the Campos basin under Brazil’s 14th Round of Bids, staged by the National Petroleum Agency.

Offshore staff

RIO DE JANEIROPetrobras has acquired six offshore blocks in the Campos basin under Brazil’s 14th Round of Bids, staged by the National Petroleum Agency (ANP).

The company will operate all the blocks under a 50:50 partnership with ExxonMobil.

The blocks are in deepwater in the SC-AP3 sector, and are thought to hold significant geological potential.

This was also the sector that attracted the most attention in the round, attracting the interest of Shell, Repsol, Total, BP, Karoon, and CNOOC. A total of 13 bids were submitted for blocks in this area.

Petrobras has agreed to pay an R$1.8-billion ($573-million) signature bonus, representing 0.8% of investments anticipated under the company’s 2017-2021 Business and Management Plan.

Another factor in securing the blocks was the Minimum Exploration Program (MEP), covering the number of wells to be drilled and seismic activity during the exploratory phase.

In addition, Petrobras secured an onshore block in the Paraná basin. Below are full details of the awards:

Block

Sedimentary basin

Petrobras Bonus (R$)

PB MEP (WUs)

C-M-210

Campos

6,488,605.05

45

C-M-277

Campos

20,488,638.55

92

C-M-344

Campos

15,488,672.05

42.5

C-M-346

Campos

1,120,488,673.05

1062

C-M-411

Campos

600,488,705.55

562

C-M-413

Campos

32,488,706.55

75

PAR T-175

Paraná

1,690,771.75

1000

Total: 7 blocks

1,797,622,772.55

R$2,878.5

In a separate development, Petrobras and Chevron Brasil have started the binding phase of the transfer of their stakes in theheavy-oil Maromba field in the shallow water Campos basin.

They have issued invitation letters to interested parties qualified in the previous phase, with instructions on the divestment process, including the guidelines to conduct due diligence and submit binding proposals.

Petrobras operates the field with 70% interest, Chevron holding the balance.

10/04/2017

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