Project Profile
Value: Undisclosed
Location: Potiguar basin, offshore Brazil
Area: 767.4 km2
Start-up Year: -
BP and partners Petrobras and Petrogal have won a deepwater block offshore Brazil in the Brazilian National Petroleum Agency’s (ANP’s) 11th bid round. The companies have committed to explore concession block POT-M-764 in the Potiguar basin, for oil and gas resources, with the right to develop any commercial discoveries under the Brazilian concession regime. The block covers an area of each 767.4 km2. Petrobras will be the operator with a 40% stake in the block with BP holding the other 40% interest and Petrogal the remaining 20%. BP and its partners now expect to work with the ANP to finalise the awards. The signing of the contracts, in which BP will participate through its Brazilian subsidiary BP Energy do Brasil Ltda., is expected to take place in August 2013.
Operators:
Petrobras: Operator with 40% interest
BP: 40% interest
Petrogal: 20% interest