Petrobras to take over BP's stakes in ultra-deepwater blocks offshore North Brazil
Published by Nicholas Woodroof,
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.
Exclusive contributions come from Rystad Energy, Archer, Weatherford, Halliburton, CGG, NOV, TETRA Technologies, Clariant and more.
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/
You might also like
Rystad Energy: M&A boom in South East Asia to see US$5 billion of upstream assets for sale
Southeast Asia will be a hotbed for upstream mergers and acquisitions (M&A) in the next two years, with more than US$5 billion of assets up for grabs, Rystad Energy research shows.