Murphy Oil partners with Wintershall in three Brazil exploration licences

Wintershall Dea will retain a 70% participating interest and operatorship. The agreement is subject to a final regulatory approval by Brazil’s National Agency of Petroleum, Natural Gas and Biofuels, ANP.

“The farm-down is in line with Wintershall Dea’s strategy of having a balanced portfolio. Brazil plays an important role for the company, as a region for growth”, said Thilo Wieland, Member of the Management Board of Wintershall Dea and responsible for Brazil.

Hugo Dijkgraaf, Chief Technology Officer in the Management Board of Wintershall Dea, commented: “We are very pleased, having Murphy as a license partner in Potiguar. We are already working with Murphy in Block 5 offshore Mexico and are now looking forward to extend our cooperation on these prolific exploration blocks offshore Brazil”. As part of the work programme, a 3D seismic campaign is currently underway in the area. The three blocks cover an area of total 3133 km² and are located in the Potiguar Basin, a proven hydrocarbon system on the Equatorial Margin in North Eastern Brazil and in the vicinity to the light oil discovery Pitu.

Wintershall Dea was awarded the three blocks with a 100% participating interest including operatorship in Brazil’s 15^th Concession Bidding Round in November 2018.

Currently, Wintershall Dea holds participation interest in seven exploration licenses offshore Brazil, of which four as operator.

Read the article online at: https://www.oilfieldtechnology.com/exploration/10102019/murphy-oil-partners-with-wintershall-in-three-brazil-exploration-licences/