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Petrobras to take over BP's stakes in ultra-deepwater blocks offshore North Brazil

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Oilfield Technology,


Petrobras has signed agreements with BP Energy do Brasil Ltda (BP) to take over BP's entire stakes in six blocks located in ultra-deepwater in northern Brazil, approximately 120 km from the state of Amapá, in a high-potential exploratory frontier on the Brazilian equatorial margin.

The six blocks in the agreements are FZA-M-57, FZA-M-59, FZA-M-86, FZA-M-88, FZA-M-125 and FZAM-127, which were acquired by the consortia in the 11th Bidding Round of Blocks of the National Agency of Petroleum, Natural Gas and Biofuels (ANP), which occurred in 2013.

Blocks FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125 and FZA-M-127 are owned by Petrobras (30%), Total (40%) and BP (30%). Petrobras had already signed an agreement to assume the operation and the totality of Total's stakes in these contracts, which is still subject to ANP approval. The FZA-M-59 block is owned by a consortium of Petrobras, with a 30% stake and operator, and BP (70%).

The agreement with BP will allow Petrobras to hold a 100% interest in these six blocks. The completion of the transfer is still subject to regulatory approvals.


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Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/07042021/petrobras-to-take-over-bps-stakes-in-ultra-deepwater-blocks-offshore-north-brazil/

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