Petrobras Expands Its Presence in the Pelotas Basin by Acquiring 29 Blocks from Brazilian Oil Company (Petroquímica).

Written by Paulo Nogueira

Published on 13/12/2023 at 20:44

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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.

ARTICLE CONTINUES BELOW

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

Abroad Industry News Oil and Gas

Source: AtCoMedia, Inc

Petrobras Expands Its Presence in the Pelotas Basin by Acquiring 29 Blocks from Brazilian Oil Company (Petroquímica).

Petrobras Acquires 29 Blocks in the Pelotas Basin in the Fourth Permanent Offering Cycle of Concession, with Geological Potential and 20 Thousand km².

Petrobras Announces Fourth Permanent Offering Cycle of Concession

Petrobras and the Selective Strategy

The Role of Petrobras in the Market

Expansion of Petrobras’ Portfolio

The Vision of Petrobras’ CEO

Future Developments of Petrobras

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Petrobras Expands Its Presence in the Pelotas Basin by Acquiring 29 Blocks from Brazilian Oil Company (Petroquímica).

Petrobras Acquires 29 Blocks in the Pelotas Basin in the Fourth Permanent Offering Cycle of Concession, with Geological Potential and 20 Thousand km².

Petrobras Announces Fourth Permanent Offering Cycle of Concession

Petrobras and the Selective Strategy

The Role of Petrobras in the Market

Expansion of Petrobras’ Portfolio

The Vision of Petrobras’ CEO

Future Developments of Petrobras

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