PTTEP to take stake in Espirito Santo basin block

Offshore staff

BANGKOK, Thailand – PTTEP has agreed to acquire a 20% interest from Shell in the deepwater BM-ES-23 concession in Brazil’s Espirito Santo basin.

It covers an area of around 550 sq km (212 sq mi). Operator Petrobras and INPEX are the other partners.

Assuming approval from the ANP, the new partnership should start exploration and appraisal drilling later this year.

PTTEP has a 25% interest in four exploration blocks under the Barreirinhas AP1 project in the Barreirinhas basin.

09/22/2014

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