Statoil, ExxonMobil, Petrobras, BP and Shell have acquired several offshore blocks under the Production Sharing Contract (PSC) regime in the 2nd and 3rd Brazilian bidding rounds held by the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP). Six 35-year long PSCs have been awarded, of which three under the framework of the 2nd Production Sharing Bidding Round (Santos Basin) and three as per the 3rd Production Sharing Bidding Round (Santos and Campos Basins). This auction is expected to generate investments of more than R$100bn (US$31bn).
Shell will take part to three of the six PSCs in the Santos Basin: Sul de Gato do Mato block (80% and operatorship, 20% Total), Alto de Cabo Frio Oeste (55% and operatorship, 25% QPI, 20% CNOOC) and Entorno de Sapinhoá (30%, 45% Petrobras with operatorship, 25% Repsol Sinopec). Shell will pay a total of R$332.5m (US$100m) as part of its share of the bidding amount and with the new blocks. The three winning bids add over 1,700 km2 to Shell's deep water Brazil portfolio.
National oil and gas company Petrobras will also take part to the Peroba PSC (40% with operatorship, 40% BP and 20% CNODC) in the Santos basin and to the Alto de Cabo Frio Central PSC (50% with operatorship, 50% BP).
A consortium including Statoil (40%, operator), ExxonMobil (40%) and Petrogal (Galp Energia, 20%) has obtained a Production Sharing Contract (PSC) for the Carcará North block (Norte de Carcará offshore Brazil), offering around R$3bn (US$910m). Located approximately 322 km off Rio de Janeiro, the Carcará field holds an estimated recoverable resource of 2 Gbl of oil. The consortium expects to reach first oil production from Carcará in the mid-2020s. Partners also agreed to swap some assets in the neighbouring BM-S-8 block: Statoil will divest 33% out of its current 66% interest to ExxonMobil for around US$1.3bn, so that both companies will each own 36.5% in the block (17% Galp Energia).
Source: Statoil