QatarEnergy, in partnership with Brazil’s Petrobras, has won seven offshore exploration blocks in Brazil’s 6th Concession Open Acreage Bid Round, expanding the Qatari energy company’s upstream presence in the country.
The blocks, awarded by Brazil’s National Agency of
Petroleum, Natural Gas, and Biofuels (ANP), are located in the Ceará Basin
along Brazil’s northeastern Equatorial Margin.
QatarEnergy will hold a 30% participating interest in the
blocks, while Petrobras, which will serve as operator, will hold the remaining
70%.
“We are pleased with the success of these bids, which add
prospective acreage to our upstream portfolio in Brazil. I would like to thank
our valued partner Petrobras, with whom we worked closely on this partnership,
as well as ANP and the Brazilian authorities for their valuable support. We
look forward to further strengthening our partnership, and to work with all
stakeholders for a successful exploration,” said Saad Al-Kaabi, Minister of
State for Energy Affairs and President and CEO of QatarEnergy.
The seven blocks, CE-M-471, CE-M-473, CE-M-475, CE-M-477,
CE-M-537, CE-M-539 and CE-M-665, cover a combined area of approximately 4,700
square kilometres.
Located in water depths ranging from about 2,000 to 3,600
metres, the acreage lies offshore in the Ceará Basin.
The concession contracts are expected to be signed in the
first half of 2027 and will further strengthen QatarEnergy’s upstream portfolio
and partnership with Petrobras in Brazil. -OGN/TradeArabia News Service
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