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Qatar part of the group that bought pre-salt block

30 de outubro de 2017

State-owned Qatar Petroleum is part of a consortium that acquired the area named Alto de Cabo Frio Oeste, in the Santos Basin, alongside Shell and Chinese company CNOOC.

São Paulo – Qatar Petroleum is part of a consortium that bought blocks at the 3rd Production Sharing Bidding Rounds held Friday (27) by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). The group, formed by Shell, Chinese company CNOOC and QPI Brasil – a Brazilian branch of the Qatari company – acquired the block Alto de Cabo Frio Oeste, in the Santos basin, southwest coastal area of Brazil.

The proposal made by the consortium states that the Union will take 22.87% of the production, since the contract was signed under the sharing regime. Shell will be the block’s operator, with 55% of participation, with QPI Brasil holding 25% and CNOOC with 20%.

“We are pleased that our consortium was awarded this block in Brazil, which contains some of the most promising hydrocarbon prone areas in the world,” said the president of Qatar Petroleum, Saad Sherida Al-Kaabi, according to a company’s statement. “This important achievement is another result of our strategy to expand our international upstream footprint and further expand our presence in Brazil, with which we have excellent relations,” he added.

*Translated by Sérgio Kakitani