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The Contracts Signed by Shell and Ecopetrol Oil and Gas Are from the 17th Bid Round on October 7 of Last Year
On Monday, 28, contracts were signed between Shell and Ecopetrol Oil and Gas regarding 5 exploratory oil blocks, acquired in the 17th Bid Round. The information was disclosed by ANP.
The forecast is that the investments made by the winning oil and gas companies will be at least R$ 136 million. In addition, a total of R$ 37 million was raised in signature bonuses.
According to ANP, Shell Brasil Petróleo and Ecopetrol Oil and Gas, as the winning companies, will individually or as a consortium obtain the rights to explore and produce natural gas and oil in the blocks S-M-1707, S-M-1709, S-M-1715, S-M-1717, and S-M-1719.
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According to Broadcast, this auction was the last under the traditional rules of ANP bidding under the concession regime, which will now auction oil and natural gas areas in Brazil according to the demand of interested parties. “The areas can be chosen from the ANP’s Permanent Offer area, a kind of database that can be accessed by industry agents,” the site states.
On April 13, the 3rd Cycle of Permanent Offer is expected to take place, where 14 sectors located in 7 basins under the concession regime will be offered, namely:
- Espírito Santo;
- Pelotas;
- Potiguar;
- Recôncavo;
- Santos;
- Sergipe-Alagoas;
- Tucano.
About Shell Brasil Petróleo
Shell has been in Brazil since 1913 with the aim of meeting the energy demands of its customers, operating responsibly towards the economy, society, and the environment. Shell employs 900 people just in Brazil, having its headquarters located in downtown Rio de Janeiro and a manufacturing unit on Governor’s Island.
Shell Brasil was the first private company to produce oil on a commercial scale in the country, in the Campos Basin, after the market was opened. In Deep Waters, Shell has 31 contracts with the Brazilian government, being operators in 21 of these projects. Shell Brasil is present in the Campos, Santos, Barreirinhas, and Potiguar basins, with participation in 21 exploratory blocks in the country.
About Ecopetrol Oil and Gas
Ecopetrol is the largest oil company in Colombia, founded in 1921 as Tropical Oil Company and changed its name to Ecopetrol on August 25, 1951.
Living its expansion and internationalization, on December 12, 2006, the business group created Ecopetrol Oil and Gas do Brasil Ltda, aiming to seek investment opportunities in the country. Since then, the company has been working on various projects.
In the 11th Bid Round of the National Agency of Petroleum, Natural Gas and Biofuels (ANP), in May 2013, Ecopetrol obtained two offshore blocks, whose concession it currently holds.
The Oil and Gas Companies Ocyan and Petrobras Sign a R$ 900 Million Contract
Since 2018, Ocyan, formerly Odebrecht Oil and Gas, resumed negotiations with Petrobras. In 2021, the oil and gas companies rekindled their relationship through a contract worth tens of millions of reais. This year, Ocyan will begin to integrate into the subsea decommissioning sector, meaning Ocyan will work on dismantling subsea equipment. To learn more, read the full article by clicking here.
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