QatarEnergy, in a consortium with oil giants TotalEnergies and Petronas, have been awarded an offshore exploration block during the first cycle of Brazil’s open acreage under a production sharing regime bid held in Rio de Janeiro.
Under the terms of the agreements, QatarEnergy will hold a 20% working interest, alongside the operator Petrobras (30%), TotalEnergies (30%) and Petronas Petroleo Brasil Ltda. (20%).
Commenting on this occasion, HE Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy said: “We are pleased to achieve this latest successful joint-bid, which adds further highly prospective acreage to our upstream portfolio in Brazil, and particularly in the prolific Campos Basin.”
The acquisition, which is expected to close in the first half of 2023, further establishes QatarEnergy as one of the leading upstream players in Brazil, where it already holds working interests in two producing fields and numerous exploration blocks.
