Chevron, Total win blocks offshore Brazil

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Chevron and Total have been awarded blocks offshore Brazil in the country’s 16th bidding round.

The US supermajor and its partners, Wintershall Dea and Repsol, picked up acreage in the Santos and Campos basins comprising blocks S-M-766 and C-M-845, which contain pre-salt targets and a work program intended to conduct 3D seismic acquisition and prospect maturation.

French Total and co-venturers Qatar Petroleum and Petronas won the C-M-541 deep offshore block in the Campos Basin, which sits in water depths of 3000m. Total is the operator and 40% interest holder with Qatar weighing in with a 40% stake and Petronas 20%.

Total said the first well is planned for 2021.

“Total is pleased to expand its footprint in the Campos Basin with this new operated exploration block, alongside two strategic partners. It is another demonstration of our ability to seize high- quality exploration acreage in a key growth area for the Group,” Patrick Pouyanné, Chairman and CEO of Total, said.

“This is in line with our strategy to continue building our operator positions in Brazil’s deep offshore, where we can add value thanks to our deep-water competencies. It follows on from our acquisition in 2016, through successful direct negotiations with Petrobras, of operatorship of the Lapa field and an interest in the Iara concession. We have also launched development phases 1 and 2 of the giant Mero field. In this context, Total confirms that it will not participate in the upcoming Transfer-of-Rights Surplus Round, as the competitive tender is only offering non-operated interests.”

Wintershall Dea holds a 20% interest in the blocks S-M-766 and C-M-845 which will be operated by Chevron and also includes Repsol as a partner. A work program aims for 3D seismic acquisition and prospect maturation.

The blocks are 150-km south-east of the pre-salt discovery Libra, in a new emerging area adjacent to the exploration blocks S-M-764, C-M-821 and C-M-823 where Wintershall Dea, Chevron, and Repsol are already active.

“Brazil is one of the world’s most promising oil and gas regions. The blocks we won are an excellent fit to our plans in Brazil. The country is an important pillar in our global growth strategy,” Hugo Kijkgraaf, a management board member of Wintersall whose portfolio is exploration, said.

Valerie Bosse, Managing Director of Wintershall Dea in Brazil, said: “The blocks are located in the immediate vicinity of three licenses, where we already have exploration activities. They are a strong complement to our exploration portfolio, giving us further access to a maturing and emerging basin,” Valerie Bosse, Managing Director of Wintersall Dea in Brazil, added.

Wintershall Dea operates four exploration blocks offshore Brazil and has participation interests in nine licenses in total.

The 16th Bidding Round featured 36 blocks in the sedimentary basins of Pernambuco-Paraíba, Jacuípe, Camamu-Almada, Campos and Santos, an area of 29,300km2.

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