Chevron Files License Request and Plans to Drill Two Wells in the Pre-Salt of the Santos Basin

American Chevron Advances Its First Project in Brazil’s Pre-Salt and Plans to Drill Two Wells in the Santos Basin

The oil company Chevron has submitted a licensing request to Ibama for exploration in the area of block S-M-764, in the pre-salt of the Santos Basin.
The reason was the company’s new focus (the Pre-Salt) and depending on the satisfactory results of the first well, Chevron is already planning to carry out a second drilling in the area it won in the 15th round of the ANP.

The fact only confirmed the company’s planning to focus on the pre-salt, as Click Petroleum and Gas had reported, the company sold its stake in the Frade field to PetroRio, to achieve this goal.
The area that will receive Chevron’s drillings is the company’s first project in the pre-salt and is located at a distance of 270 km from the coast of the state of Rio de Janeiro (in relation to the municipality of Arraial do Cabo) and a water depth of 2,750m.

Chevron holds a 40% stake in the block and has as partners the German Whintershall, with a 20% stake, and the Spanish Repsol, which holds 40%.

The area was purchased during the 15th round of the ANP, and the consortium paid R$ 131.9 million in signing bonuses for the concession. All logistics for the drilling campaign will be handled by the Port of Açu in northern Fluminense.

The New Focus of Chevron

Confirming its planning to prioritize the pre-salt, Chevron announced in April the acquisition of Anadarko for US$ 33 billion and increased its stakes in Brazil.
With the operation, Chevron expanded its portfolio in Brazil from eight to ten areas and now owns 30% and 33%, formerly of Anadarko, in blocks C-M-101 and C-M-61 (Campos Basin), respectively.

Chevron has stakes in four more areas of the Campos Basin, namely: C-M-791 (40%), C-M-821 (40%), C-M-823 (40%), and in the Papa-Terra field (37.5%).
The oil company is also present in the Santos Basin, where it holds stakes in CE-M-715 (50%), in the Ceará Basin; in block S-M-764 (40%), and in the sharing areas of Três Marias (30%) and Saturno (50%).

Also read! Petrobras is selling fields in Espírito Santo! Peroá and Cangoá fields are the latest targets of Petrobras’ divestment plan, which will also sell its stake in the new Malombe discovery.