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

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...