CNOOC's contracts with Brazil span approximately 2,600 sq km, with water depths ranging from 600 m to 3,000 m. (Source: Shutterstock)
CNOOC Petroleum Brasil Ltda., a subsidiary of CNOOC Ltd., entered into four concession contracts with the Brazilian National Agency for Petroleum for exploration blocks offshore Brazil.
The contracts, announced Oct. 16, were signed for a total of four blocks: S-M-1813 in the Santos Basin, and blocks P-M-1737, P-M-39 and P-M-97 in the Pelotas Basin. The total area is approximately 2,600 sq km, with water depths from 600 m to 3,000 m.
CNOOC Petroleum Brasil is the sole owner and operator in the Santos’ Block S-M-1813.
CNOOC holds a 20% non-operated interest in each of the three Pelotas Basin blocks, with Petrobras holding a 50% operating interested in the blocks and Shell holding the remaining 30% of non-operating interests.
Recommended Reading
Baytex Completes Sale of Kerrobert Thermal Asset for $42MM
2024-12-23 - Baytex Energy’s divested Kerrobert non-core thermal asset can produce approximately 2,000 bbl/d of heavy oil.
Tracking Frac Equipment Conditions to Prevent Failures
2024-12-23 - A novel direct drive system and remote pump monitoring capability boosts efficiencies from inside and out.
Baker Hughes: US Drillers Keep Oil, NatGas Rigs Unchanged for Second Week
2024-12-20 - U.S. energy firms this week kept the number of oil and natural gas rigs unchanged for the second week in a row.
ProPetro Agrees to Provide Electric Fracking Services to Permian Operator
2024-12-19 - ProPetro Holding Corp. now has four electric fleets on contract.
EY: Three Themes That Will Drive Transformational M&A in 2025
2024-12-19 - Prices, consolidation and financial firepower will push deals forward, says EY.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.