Brasil Business news

Petronas subsidiary wins Sepia area in Brazil bid

PETALING JAYA: Petroliam Nasional Bhd (Petronas) will probably be strengthening its presence in Brazil after profitable a bid for a area within the Santos Basin by means of its subsidiary.

Bernama reported that Petronas Petroleo Brasil Ltda (PPBL), a subsidiary of the nationwide oil and fuel firm, and its consortium companions have received the Sepia area, positioned within the Santos Basin, throughout Brazil’s second switch of rights surplus quantity bidding spherical held in Rio de Janeiro.

Following this profitable bid, Petronas will maintain a 21% curiosity alongside operator Petrobras (30%), TotalEnergies (28%), and QatarEnergy (21%), the nationwide information company reported.

The outcomes have been publicly introduced by the Brazilian Nationwide Company of Petroleum, Pure Gasoline and Biofuels (ANP) in a stay broadcast, it added.

Petronas is extraordinarily inspired with the end result of the bid spherical which marks our entry into the Santos Basin, Bernama quoted Petronas president and group chief government officer Datuk Tengku Muhammad Taufik pic) as saying.

“This alerts our dedication to strengthen our ventures in Brazil which gives the world’s most prolific basins. Establishing our presence within the Americas is consistent with our international development technique.

“At the same time as we work carefully with our companions, along with the assist of the host authorities, Petronas will stay centered on pursuing worth creation whereas persevering with our decarbonising efforts with the intention to sustainably develop and monetise the Sepia area,” Muhammad Taufik mentioned in a press release.

Sepia is a pre-salt oil area within the Santos Basin, positioned in water depths about 2,000m off the coast of Rio de Janerio and has began its manufacturing in August 2021 by means of a devoted 180,000-barrel per day floating manufacturing, storage and offloading unit (FPSO).

The second FPSO is predicted to be sanctioned quickly which might improve the general manufacturing capability of the sphere.

PPBL at the moment has a collaborating curiosity within the Tartaruga Verde or the BM-C-36 concession and Module III of the Espadarte or the Espadarte Concession deepwater fields positioned within the Campos Basin, offshore Brazil.

It additionally holds collaborating pursuits in three different deepwater exploration blocks within the Campos Basin, which have been awarded throughout Brazil’s concession exploration bid spherical 16 in 2019.

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