Petrobras formalizes Brazil’s 12th round concession contracts

Offshore staff

RIO DE JANEIRO Petrobras has signed 41 concession contracts for blocks acquired under Brazil’s 12th Round of Bidding organized by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

During last November’s auction, Petrobras acquired interests in 49 of the 50 blocks on offer. Among these, 22 involved partnerships with Petrobras being operator of 16. The remaining eight contracts will be signed next month.

All the blocks are in recently explored and mature basins. Petrobras’ declared strategy for its bids was to increase its natural gas reserves and production near existing production facilities.

Earlier this week the company’s oil production in its operated presalt Santos/Campos basin fields reached a new peak of 470,000 b/d.

Production comes from 24 wells, nine of which are in the Santos basin where average productivity per presalt well is 28,000 b/d.

The increase is largely due to well 7-LL-22D-RJS coming onstream last week through the FPSO Cidade de Paraty on the Lula field, connected via a buoyancy supported riser.

05/16/2014

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