BP wins 8 deepwater exploration blocks in Brazil

BP and partners Total, Petrobras and Petrogal have been named winning bidders for eight deepwater blocks offshore Brazil in the Brazilian National Petroleum Agency’s (ANP’s) eleventh bid round. BP will be operator in two of the blocks.
The companies have committed to explore concession blocks in the Foz do Amazonas basin, the Barreirinhas basin, and the Potiguar basin, for oil and gas resources, with the right to develop any commercial discoveries under the Brazilian concession regime.
“BP is delighted with this result. It will increase our frontier exploration exposure along Brazil’s equatorial margin and plays to our strengths in deepwater. We look forward to a successful exploration program working with our partners Total, Petrobras and Petrogal,” said BP’s Executive Vice President of Exploration Mike Daly.

BP and its partners now expect to work with the ANP to finalize the awards. The signing of the contracts, in which BP will participate through its Brazilian subsidiary BP Energy do Brasil Ltda., is expected to take place in August 2013.
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