Petrobras Buys the Most Blocks in the 11th Round

Source: www.gulfoilandgas.com 5/16/2013, Location: South America

Petrobras announces that it acquired the most blocks offered in the 11th Bid Round held by the National Petroleum Agency (ANP). Petrobras bought, whether on its own or in partnerships, 34 of the 289 blocks offered in the bid. It also secured, in its technicians’ opinions, the blocks with the highest exploratory potential offered by the agency, located in the Foz do Amazonas, Espirito Santo and Barreirinhas Basins. In its strategy to acquire onshore blocks, Petrobras invested primarily in the Parnaiba Basin, seeking natural gas accumulations.

The total invested by Petrobras and its partners in the 11th round was R$ 1,460.9 million, of which R$ 537.9 million came from its own resources and R$ 923 million from partners. The result of the bid will also allow the company to expand its knowledge of the geology of the sedimentary basins in the blocks it bought, by drilling wells and acquiring a large amount of seismic data, which will increase the likelihood of discovering new oil and natural gas accumulations. To do so, the company formed important partnerships in all the offshore blocks it bought.

The company’s strategy in the bid was successful and consistent with the objectives outlined in its 2013-2017 Business & Management Plan of incorporating new exploratory areas for the continuous recomposition of its portfolio in order to ensure oil and natural gas volumes that are necessary for the sustainability of its future production curve.

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


Brazil >>  8/11/2022 - Petrobras informs that it has begun the opportunity disclosure stage (teaser), referring to the sale of its mining rights for research and mining of p...
Angola >>  8/10/2022 - Afentra plc, an upstream oil and gas company listed on AIM and focused on acquiring production and development assets in Africa, is pleased to announc...

Denmark >>  8/10/2022 - Vestas continuously looks for partners that can support our strategic focus on our core business and help scale renewables efficiently in the long-ter...
Norway >>  8/10/2022 - • The transaction consideration of US$68 million includes NOK 309 million (~US$33 million) in deferred tax assets which are recoverable for Lime Petro...

Oman >>  8/8/2022 - Maha Energy AB (publ) (“Maha” or the “Company”), through its wholly owned subsidiary Maha Energy (Oman) Ltd., has entered into an Agreement with Mafra...
United States >>  8/8/2022 - Cenovus Energy Inc. (CVE) has reached an agreement to purchase bp’s 50% interest in the bp-Husky Toledo Refinery in Ohio. Cenovus has owned the other ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.