Petrobras reports that National Agency of Petroleum, Natural Gas, and Biofuels (ANP) has approved the Búzios Coparticipation Agreement, which will regulate the coexistence of the Transfer of Rights Agreement and the Production Sharing Contract of the Transfer of Rights Surplus for the Búzios field, in the Santos Basin pre-salt.
Brazil: Petrobras announces partial devolution of area in Libra in the Santos Basin
19 Apr 2021
Libra, constituted by Shell Brasil Petróleo Ltda. (20%),
Total E&P do Brasil Ltda. (20%),
CNODC Brasil Petróleo e Gás Ltda. (10%) and
CNOOC Petroleum Brasil Ltda. (10%), having Pré-Sal Petróleo S.A. (PPSA) as contract manager, notified the National Agency of Petroleum, Natural Gas and Biofuels (ANP) of the
devolution of the Southeast area of the Libra block, in the Santos Basin.
Since the beginning of the evaluation activities of the Libra block, the Southeast area, a distinct compartment from the other ones, was identified as an area of low potential. The conclusion of the obtained data analysis confirmed this expectation.