Petrobras buys the most blocks and offers the biggest signature bonus in the ANP 11th Round

abarrelfull wrote on 17 May 2013 18:51
Tags: brazil petrobras s-america upstream

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Petróleo Brasileiro SA - Petrobras announces que yesterday it acquired the most blocks Offered in the 11th Bid Round held by the National Petroleum Agency (ANP). Petrobras bought, Whether on its own or in partnerships, 34 of the 289 blocks Offered in the bid.

Also it secured, in its technicians' opinions, the blocks with the highest potential exploratory Offered by the agency, located in the Foz do Amazonas, Holy Spirit and Barreirinhas basins. In its strategy to acquire onshore blocks, Petrobras invested primarily in the Parnaíba basin seeking natural gas accumulations.

The Total invested by Petrobras and its partners in the 11th round was R $ 1,460.9 million, of which R $ 537.9 million came from its own resources and R $ 923 million from partners. The result of the bid will Also allow the company to expand its knowledge of the geology of the sedimentary basins in the blocks it bought, by drilling wells and acquiring a large amount of seismic data, Which will Increase the likelihood of discovering new oil and natural gas accumulations. To do so, the company formed important partnerships in all the offshore blocks it bought.

The company's strategy in the bid was successful and consistent with the objectives outlined in its 2013-2017 Business & Management Plan of Incorporating new exploratory areas for the continuous recomposition of its portfolio in order to Ensure oil and natural gas volumes que are Necessary for the sustainability of its future production curve. Provides The table below a summary of Petrobras' participation in the 11th Bid Round

• Petrobras buys the most blocks and offers the biggest signature bonus in the ANP 11th Round

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