RIO DE JANEIRO – Brazil’s National Petroleum Agency (ANP) has approved BP’s farm-in to four deepwater exploration and production concessions operated by Petrobras.
BP Energy do Brasil is taking a 40% stake in each of the blocks. These are BM-BAR-3 and BM-BAR-5 in the Barreirinhas basin, and BM-CE-1 and BM-CE-2 in the Ceará basin. Altogether they cover a total area of 2,113 sq km (816 sq mi).
Blocks BM-CE-1 and BM-CE-2 were awarded in Brazil Round 2 (2000). They are located 75 km (46 mi) offshore Fortaleza, in water depths ranging from 100-2,200 m (328-7,218 ft).
BM-BAR-3 and BM-BAR-5 were awarded under Brazil Rounds 4 and 5 in 2002 and 2003, respectively. Both are 200 km (124 mi) offshore São Luís in water depths of 2,000-3,000 m (6,561-9,842 ft).
Following the transaction, BP will hold concessions in 14 blocks in Brazil, six as operator. It will partner Petrobras in nine of these concession areas: the Xerelete field, BM-C-34 and BM-C-35 (in the Campos basin); BT-PN-2 and BT-PN-3 (in the Parnaíba basin); and the newly awarded blocks.