Project Profile
Value: US$150 million
Location: Offshore Brazil, Espirito Santo Basin
Start-up Year: 2015
An offshore Oil Block BM-ES-24. Based on the results of oil in the neighbour Jubarte field, the operators plans to discover oil in the sub-salt area ES-M-588. The drillship Deepwater Millennium detected hydrocarbons early in 2008 but was taken off the area before reaching the primary objective.
Operators:
Petrobras: Operator with 70% interest (after Anadarko farmed out 30% in Oct 2012)
IBV (Joint venture between Videocon Industries and Bharat Petroleum): 30% interest
Contractors:
Transocean: Drilling contractor