QatarEnergy wins working interest in Brazil’s offshore exploration block

​​QatarEnergy, in a consortium with TotalEnergies and Petronas, has been awarded the Agua-Marinha Production Sharing Contract (PSC), under the 1st Cycle Permanent Offer round.

The contract was awarded by Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP).

QatarEnergy wins working interest in new Brazilian offshore exploration block#QatarEnergy #YourEnergyTransitionPartner⁣⁣ #Qatar pic.twitter.com/5qBwFKDTjM

— QatarEnergy (@qatarenergy) December 19, 2022

Under the terms of the contract and associated agreements, QatarEnergy will hold a 20 per cent working interest, alongside the operator Petrobras (30 per cent), TotalEnergies (30 per cent) and Petronas Petroleo Brasil Ltda. (20 per cent). The acquisition is expected to close in the first half of 2023.

The Agua-Marinha block has a total area of 1,300 sq. km and is located in water depths of about 2,000 meters off the coast of Rio de Janeiro in Campos Basin, QatarEnergy said in a statement.

“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,” said Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, president and CEO of QatarEnergy.

“We are delighted to achieve this success with our valued partners Petrobras, TotalEnergies, and Petronas.”

QatarEnergy has existing working interests in two producing fields and numerous exploration blocks in Brazil.