The Brazilian National Petroleum Agency approved BP’s farm-in to four deepwater exploration and production concessions in the Brazilian equatorial margin. BP Energy do Brasil Ltda. Is taking a 40% interest in each of the Petróleo Brasileiro S.A. (Petrobras) operated blocks located in the Barreirinhas and Ceará basins, from Petrobras.
Together the blocks cover 2,113 square kilometers giving BP access to four new concession blocks; BM-BAR-3 and BM-BAR-5 in the Barreirinhas basin and BM-CE-1 and BM-CE-2 in the Ceará basin.
BP group chief executive, Bob Dudley said that the addition of the new blocks bring BP new exploration opportunities in addition to the significant position the company holds in the country. In the past year BP has also acquired ten concessions from Devon Energy, made investments in biofuels and expanded their aviation business in Brazil.
BP will hold concessions in 14 blocks in the country, operating 6, following the farm-in. BP will be a partner with Petrobas in nine concession areas; in the Xerelete field, in BM-C-35 and BM-C-35 in the Campos basin, in BT-PN-2 and BT-PN-3 in the Parnaíba basin, in BM-BAR-3 and BM-BAR-5 in the Barreirinhas basin and in BM-CE-1 and BM-CE-2 in the Ceará basin.