Petroleo Brasileiro S.A. (Petrobras) has added to its belongings within the Pelotas Basin close to Brazil and Uruguay.
Petrobras signed the three remaining concession contracts from the fourth Everlasting Concession Provide Cycle, acquired in partnership with Shell and CNOOC. The consortium can have Petrobras as operator with a 50 p.c stake, whereas Shell and CNOOC have 30 p.c and 20 p.c stakes, respectively.
The signing of the contracts for blocks P-M-1737, P-M-1739 and P-M-1797 concludes Petrobras’ participation within the public sale, by which it acquired a complete of 29 concession contracts within the Pelotas Basin, the corporate stated in a information launch. The public sale was held by the Nationwide Company of Petroleum, Pure Gasoline and Biofuels (ANP) in a public session in December 2023.
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The signing of those contracts is “in accordance with the corporate’s long-term technique with the intention of diversifying its portfolio,” Petrobras stated.
The contracts additionally strengthen “Petrobras’ place as the principle operator of oil fields situated in deep and ultra-deep waters,” with the potential for future manufacturing, the corporate added.
In September, Petrobras and Shell acquired 26 concession contracts within the Pelotas Basin: P-M-1277, P-M-1279, P-M-1281, P-M-1361, P-M-1363, P-M-1441, P-M-1443, P-M-1357, P-M-1359, P-M-1439, P-M-1516, P-M-1518, P-M-1595, P-M-1597, P-M-1793, P-M-1795, P-M-1838, P-M-1840, P-M-1520, P-M-1522, P-M-1599, P-M-1674, P-M-1676, P-M-1678, P-M-1743 and P-M-1799. Petrobras holds a 70 p.c stake within the blocks because the operator whereas Shell owns a 30 p.c stake.
Earlier within the month, Petrobras introduced that the fuel potential within the latest discoveries in Colombia’s Guajira Offshore Basin is round 6 trillion cubic toes in place, “confirming the magnitude of the discoveries made within the space and its significance for the Colombian fuel market”.
Petrobras is the operator of the asset with a working curiosity of 44.44 p.c, whereas Ecopetrol holds the remaining working curiosity of 55.56 p.c. The consortium will proceed operations to develop the world, in accordance with planning and contractual forecasts with the Nationwide Hydrocarbons Company (ANH), in accordance with a separate information launch.
“The industrial viability of the reserve would require additional research,” Petrobras stated.
In August, Petrobras stated its Uchuva-2 properly confirmed the invention it made in 2022 with the Uchuva-1 properly, including that the properly “provides related info for the event of a brand new frontier of exploration and manufacturing in Colombia, reinforcing the volumetric potential for fuel within the area”.
The Uchuva-2 properly, which was spudded in June, is situated in deep waters in Colombia, 19 miles (31 kilometers) off the coast and at a water depth of two,638 toes (804 meters). In its deliberate improvement of 5 phases, the gas-bearing interval was verified within the fourth part by wireline logging, which will probably be additional characterised by laboratory analyses, Petrobras stated.
The Uchuva-1 and Uchuva-2 wells have been renamed Sirius-1 and Sirius-2, respectively.
Petrobras earlier said that its operations within the Tayrona Block are according to its long-term technique, aimed toward replenishing oil and fuel reserves by the exploration of latest frontiers and performing in partnership, “making certain that international vitality demand is met throughout the vitality transition”.
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