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.
Read the latest issue of Oilfield Technology in full for free: Issue 1 2021
Oilfield Technology’s first issue of 2021 begins with a look at US tight oil’s prospects this year. The issue then moves on to cover completions technology, production forecasting, electric fracturing, sand recovery and more.
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