Petrobras, TotalEnergies, Shell, Others, Pen Production Sharing Contracts for Blocks Offshore Brazil

©lazyllama/AdobeStock
©lazyllama/AdobeStock

Brazilian oil firm Petrobras on Wednesday signed Production Sharing Contracts for offshore blocks, awarded in the Open Acreage under Production Sharing Regime – 1st Cycle held by Brazil’s National Petroleum Agency (ANP) in December 2022.

Petrobras signed the production sharing contracts for Água Marinha, in partnership with TotalEnergies (30%), QatarEnergy (20%) and Petronas (20%), Norte de Brava, where Petrobras acquired the block in its entirety, and Sudoeste de Sagitário, a block that was acquired with a 60% stake in consortium with Shell (40%).

"The signing of these contracts reaffirms Petrobras' focus on the exploration and production of profitable assets and strengthens the company's profile as the main operator of oil fields located in deep and ultradeep waters, potentializing the recomposition of reserves for the future," Petrobras said.

"The signature of the PSC for Agua Marinha expands our presence in this promising area of the pre-salt Campos Basin, alongside our three strategic partners, and we are looking forward looking to exploring the block and drilling the Touro prospect” said Kevin McLachlan, Senior Vice President, Exploration of TotalEnergies. “Offshore Brazil, with its material low-cost, low-emission resources is a core area for the Company. This block, along with the two South Santos basin concessions obtained in 2022, further reinforces our exploration portfolio in this high potential area.”

Agua Marinha is a 1,300 sq.km exploration block located in the pre-salt Campos Basin south of the Marlim Sul field and about 140 km from shore. The work program includes drilling one firm exploration well during the exploration period.


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