HRT Extends Exploration Phase for 10 Blocks in Brazil

Source: www.gulfoilandgas.com 3/12/2013, Location: South America

HRT Participacoes em Petroleo S.A announces that the Brazilian National Agency of Petroleum, Natural Gas and Biofuels ("ANP") has granted a 4-year extension of the second period of the exploration phase for 10 blocks located in the south and east of the Solimoes Basin, encompassing the blocks SOL-T-151, SOL-T-174, SOL-T-196, SOL-T-197, SOL-T-192, SOL-T-214, SOL-T-215, SOL-T-216, SOL-T-217 and SOL-T-218.

This decision gives HRT and TNK-Brasil the opportunity to develop its exploratory campaign up to March 2017, in this large and unexplored region that covers over 27,000 km2, with the potential to identify new hydrocarbon accumulations.

"This extension granted by ANP confirms the commitment that HRT made to further evaluate these frontier blocks in the Solimoes Basin. The gas findings in wells 1-HRT-5-AM, 1-HRT-9-AM and 1-HRT-10-AM indicate that the extension to the southern structural trends have potential for new hydrocarbon discoveries. This new 4-year period is aligned with our strategy to expand the exploratory campaign to the southern and eastern blocks, towards where we are acquiring seismic data, as well as preparing rigs to drill," said the CEO of HRT O&G, Milton Franke.

HRT is the operator of 21 blocks in the Solimoes Basin, which it is exploring in cooperation with TNK-Brasil.

For more information about related Opportunities and Key Players visit Brazil Oil and Gas Projects


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