Brazilian state-owned oil and gas company Petrobras has signed 26 concession contracts for the blocks in the offshore Pelotas Basin.
The concession contracts are part of the fourth Permanent Concession Offer Cycle from the public session conducted by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) in December 2023.
As per the terms of the agreement, Petrobras will serve as the operator of the blocks with a 70% stake, while Shell will own the remaining 30% stake.
In the 4th Permanent Concession Offer Cycle auction, Petrobras also obtained three more blocks through a partnership that included Shell and China National Offshore Oil Corporation.
Contracts for those will be finalised later as per the ANP’s timetable.
Announcing the signing, Petrobras said: “The signing of these contracts is in accordance with the company’s long-term strategy with the aim of diversifying its portfolio; and it also strengthens Petrobras’ position as the main operator of oil fields located in deep and ultra-deep waters, potentialising the recomposition of reserves for the future.”
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By GlobalDataAs part of the diversification strategy, Petrobras recently expressed interest in acquiring a stake in the Mopane oil discovery made by Galp Energia, offshore Namibia.
The Brazilian company could form a partnership for its bid to acquire the 40% stake that is up for sale.
The Mopane field in the Orange Basin’s PEL 83 has drawn interest from more than 12 companies including ExxonMobil and Shell.
Galp, the main operator of PEL 83, is seeking to sell 50% of its 80% stake in the field, which is estimated to hold at least ten billion barrels of oil equivalent.
Most recently, Petrobras teamed up with energy data and intelligence company TGC to advance scientific research and technological development in Brazil’s energy sector.
The companies will develop tech solutions to enhance exploration and production and conduct scientific research to better understand Brazil’s sedimentary basins through geological and geophysical data analysis.
