Rio de Janeiro – Petrobras announced on Tuesday (22) the start of activities in Benin, on the west coast of Africa, with the acquisition of half an oil exploration block covering an area of 7,400 square kilometres. According to the press statement disclosed today, Petrobras should share exploration of Block 4 with Compagnie Béninoise des Hydrocarbures (CBH), a subsidiary of Lusitania Petroleum.
Expectations of the Brazilian state-owned oil company are to find light oil, at a depth varying from 200 to 3,000 metres, in the block located 60 kilometres off the coast. The objective behind acquisition of the block, according to Petrobras, is to seek new opportunities in deep waters and ultra deep waters on the African continent, where the company already operates in five countries: Angola, Libya, Namibia, Nigeria and Tanzania.
According to a press statement, CBH remains as the block operator, but Petrobras, if it desires, may take over operation. The Brazilian state-owned oil company should be responsible for the 3D seismic survey of 2,250 square kilometres of area. In case the block confirms exploratory potential, three wells should be drilled.
*Translated by Mark Ament
