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Petrobras Acquires 29 Blocks in the Pelotas Basin in the Fourth Permanent Offering Cycle of Concession, with Geological Potential and 20 Thousand km².
The acquisition of 29 blocks by Petrobras in the Pelotas Basin in the fourth Permanent Offering Cycle of Concession from ANP strengthens the company’s presence in the oil exploration.
Furthermore, the partnership with CNOOC Petroleum Brazil and Shell Brazil Petroleum in the acquisition of blocks PM-1739, PM-1737, and PM-1797 is a strategy of Empresa Brasileira de Petróleo to boost its operations in the region, reinforcing its role as an operator in these ventures, with a 50% stake.
Petrobras Announces Fourth Permanent Offering Cycle of Concession
The company will pay R$ 116 million in signature bonuses, representing less than 1% of the investments approved in the Strategic Plan 2024-2028 and already foreseen in the plan.
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Petrobras and the Selective Strategy
Petrobras acted selectively in the auction, reflecting the strategy to reshape its exploratory portfolio through new frontiers with geological potential.
The Role of Petrobras in the Market
Currently, almost 80% of Petrobras‘ production is concentrated in the pre-salt, which remains the company’s main asset, with higher quality oil production and lower greenhouse gas emissions.
Expansion of Petrobras’ Portfolio
The 29 new blocks add to the 47 blocks currently held by the company, adding more than 20 thousand square kilometers to the previous portfolio of about 30 thousand square kilometers.
The Vision of Petrobras’ CEO
‘New frontiers, such as the blocks acquired today, are essential to meet energy demand. We seek to replenish reserves and develop new exploratory frontiers that ensure energy demand is met during the energy transition with the lowest possible carbon footprint’, said Petrobras’ CEO, Jean Paul Prates.
Future Developments of Petrobras
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Source: AtCoMedia, Inc
