Qatar Energy, through an alliance with Petrobras, won participating shares in exploration and production rights in seven offshore blocks through the sixth open bidding round organized by the Brazilian National Petroleum, Natural Gas and Biofuels Agency.
Qatar Energy explained in a statement today that the seven exploration blocks it won are “CE-M-471,” “CE-M-473,” “CE-M-475,” “CE-M-477,” “CE-M-537,” “CE-M-539,” and “CE-M-665,” which are located in the Cear Basin along the northeastern tropical margin of Brazil. Qatar Energy will have a participating stake of 30 percent, while Petrobras (the operator) will own a 70 percent stake.
On this occasion, His Excellency Engineer Saad bin Sherida Al-Kaabi, Minister of State for Energy Affairs, Managing Director and CEO of Qatar Energy, said: “We are happy to win these shares, which add promising areas to our portfolio of assets in the exploration, exploration and production sector in Brazil.”
He added: “I would like to express my thanks to Petrobras, with whom we worked closely in this partnership, and to thank the Brazilian National Petroleum, Natural Gas and Biofuels Agency and the Brazilian authorities for their valuable support. We look forward to strengthening our partnerships and working with all parties involved to ensure the success of exploration operations.”
The concession contracts for these areas, which are expected to be signed during the first half of 2027, will enhance Qatar Energy’s presence and position in the exploration, exploration and production sector in Brazil.
The areas in the Ceara Basin cover a total area of approximately 4,700 square kilometres, and are located in water depths ranging from 2,000 to 3,600 meters off the northeastern coast of Brazil.