QatarEnergy Wins Working Interest in New Brazilian Offshore Exploration Block

QatarEnergy Wins Working Interest in New Brazilian Offshore Exploration Block

Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels has granted QatarEnergy the Agua-Marinha Production Sharing Contract (PSC) as part of a partnership with TotalEnergies and Petronas (ANP).

In accordance with the PSC and related agreements, QatarEnergy will hold a 20% working stake, while operator Petrobras, TotalEnergies, and Petronas Petroleo Brasil Ltda. will each hold 30%, 30%, and 20% respectively.

In accordance with the PSC and related agreements, QatarEnergy will hold a 20% working stake, while operator Petrobras, TotalEnergies, and Petronas Petroleo Brasil Ltda. will each hold 30%, 30%, and 20% respectively.

Commenting on this occasion, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy said: “We are pleased to achieve this latest successful joint-bid, which adds further highly prospective acreage to our upstream portfolio in Brazil, and particularly in the prolific Campos Basin.”

His Excellency Minister Al-Kaabi added, “We are delighted to achieve this success with our valued partners Petrobras, TotalEnergies, and Petronas. I wish to take this opportunity to thank the ANP and the Brazilian authorities for this opportunity and for their ongoing support.”

QatarEnergy will further solidify its position as one of the top upstream operators in Brazil with the acquisition, which is anticipated to close in the first half of 2023. In Brazil, the company currently has operating interests in two producing fields and multiple exploration blocks.

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