The Brazilian National Agency for Petroleum, Natural Gas and Biofuels (ANP) has held the second round of the transfer of rights for oil reserves in the Sépia and Atapu fields in the pre-salt Santos Basin under the production sharing regime, signing bonuses worth BRL11.1bn (US$2bn). Petrobras has already discovered commercially recoverable oil in both blocks, eliminating exploration risk.
A consortium of TotalEnergies (28%), Qatar Energy (21%) and Petronas (21%) won the rights to develop the coveted Sepia field. Petrobras joined the consortium by exercising preference rights (30% and operatorship). Oil profit (i.e. the percentage of oil produced that will be handed over to the state) came to 37.43%. Sepia entered production in 2021 and a plateau of 180 kb/d is targeted.
A consortium of Petrobras (52.5% and operatorhip), Shell (25.5%), and Total (22.5%) secured the Atapu field, which entered production in 2020 and reached a plateau of 160 kb/d. Oil profit reached 31.68%.
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