Fossil Energy – Brazil
Petrobras signed three concession contracts for blocks in the Pelotas basin offshore Brazil.
The company signed the three remaining concession contracts related to awards in partnership with Shell and CNOOC from the 4th Permanent Concession Offer Cycle by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) auction in December 2023 to explore for oil and gas in the exploratory frontier.
The contracts for blocks P-M-1737, P-M-1739, and P-M-1797 conclude Petrobras’ participation in the auction in which it acquired 29 concession contracts.
In the newly signed contracts, Petrobras will serve as the operator with a 50% stake. Shell and CNOOC will be partners with 30% and 20% stakes, respectively.
In September, a Petrobras-Shell consortium signed 26 concession contracts (70/30 split) for the basin related to the auction.
