QatarEnergy wins seven Brazil offshore exploration licences
Tribune News Network DohaQatarEnergy, in a consortium with Petrobras, won seven exploration blocks in the 6th Concession Open Acreage Bid Round organized by Brazil’s National Agenc...
QatarEnergy, in partnership with Petrobras, secured seven offshore exploration licenses in Brazil's 6th Concession Open Acreage Bid Round. These blocks, designated CE-M-471, CE-M-473, CE-M-475, CE-M-477, CE-M-537, CE-M-539, and CE-M-665, are situated within the Ceara Basin along Brazil's northeastern Equatorial Margin. QatarEnergy will possess a 30 percent stake, while Petrobras holds a 70 percent share.
Minister of State for Energy Affairs and President and CEO of QatarEnergy, HE Saad Sherida Al Kaabi, expressed satisfaction with the outcome, stating that the new licenses expand QatarEnergy's upstream portfolio in Brazil. Al Kaabi acknowledged the valuable collaboration with Petrobras, as well as the support from the ANP and Brazilian authorities. He expressed optimism about strengthening the partnership and working with all stakeholders for successful exploration.
These concession contracts significantly bolster QatarEnergy's position in Brazil's upstream sector and are anticipated to be finalized in the first half of 2027. The combined area of the Equatorial Margin blocks amounts to approximately 4,700 square kilometers, with depths ranging from about 2,000 to 3,600 meters off the northeastern Brazilian coast.
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