Future Oil & Gas OGV community RenewableUK MARINE AND SHIPPING OGV
Petrobras to take over BP’s ultra-deepwater assets off northern Brazil

Petrobras to take over BP’s ultra-deepwater assets off northern Brazil

 

Brazilian oil major Petrobras has struck a deal with BP to assume control over its entire stakes in six blocks in ultra-deep water in northern Brazil.

The six blocks in the agreements are: FZA-M-57, FZA-M-59, FZA-M-86, FZA-M-88, FZA-M-125 and FZA-M-127, which were acquired by the consortia in the eleventh 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 with 30%, Total with 40% and BP holding 30%.

Petrobras had already signed an agreement to assume the operation and the totality of Total’s stakes in these contracts in September last year. The FZA-M-59 block is owned by a consortium of Petrobras, with a 30% stake and operator, and BP with 70%.

The completion of the transfer between Petrobras and BP is still subject to regulatory approvals.

Read the latest issue of the OGV Energy magazine HERE.

Published: 07-04-2021

OGV Energy will use the information you provide on this form to be in touch with you and to provide updates and marketing. Please let us know all the ways you would like to hear from us:

TAAP (31875)