Qatar Petroleum wins bidding in Brazil for the fourth time

Gulf-based company is part of two consortia that won exploration and production rights to three oil blocks in Campos Basin last Thursday.

From the Newsroom

São Paulo – For the fourth time, Qatar Petroleum International (QPI) won the exploration and production rights in a bidding session at Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP). During the 16th Bidding Round (pictured above) held last Thursday (10) in Rio de Janeiro, the Qatar-based oil company was part of consortia that won three blocks.

In consortium with Total and Petronas, QPI won the exploration rights for block C-M-541 in the Campos basin. Total, which is the operator, owns a 40% interest, QPI a 40% interest, and Petronas a 20% one.

Kaabi: Brazil is a cornerstone of our international portfolio.

Other two blocks (659 and 713) in the Campos basin had his exploration rights won by QPI in association with Shell, which is the operator with a 40% interest and Chevron (35%). The Qatari company has a 25% interest.

“This successful result is the fourth of its kind, which further strengthen Qatar Petroleum’s footprint in Brazil, marking yet another successful step towards realizing our international growth strategy, and turning Brazil into a cornerstone of our international portfolio,” Qatar Petroleum CEO Saad Sherida Al-Kaabi was quoted as saying in a press release.

Last Thursday’s round sold the rights of 12 out of the 36 blocks offered by ANP, grossing BRL 8.915 billion (USD 2.168) in signing bonus.

Translated by Guilherme Miranda

Press Release/ANP
Askin Kiyagan/Anadolu Agency/AFP

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