Gulf Oil and Gas accountACCOUNT

QGEP Announces Relinquishment of Camarao Norte Discovery

Source: www.gulfoilandgas.com 10/11/2018, Location: South America

Share |
QGEP Participacoes S.A. (QGEP), announced that the Consortium of Block BCAM-40 has begun the relinquishment process with the National Agency of Petroleum, Natural Gas and Biofuels (ANP) of the Camarao Norte discovery located south of the Manati Field, in the Camamu-Almada Basin.

QGEP holds a 45% interest in the Camarao Norte discovery, which was declared commercial in 2009. After evaluating several development plans and potential unitization to the adjacent area, the consortium concluded that the area is not economically viable and opted for its relinquishment.

The carrying value of the Camarao Norte discovery is R$2.0 million net to QGEP and will be written-off as a charge to the Company’s third quarter’s results.

For more information about related Opportunities and Key Players visit Brazil Oil and Gas Projects

Acquisitions and Divestitures News in Brazil >>

Egypt >>  11/12/2018 - The Chief Executive Officer of Petroleum & Petrochemicals, Mubadala Investment Company, and Chairman of Mubadala Petroleum, Musabbeh Al Kaabi, and the...
Nigeria >>  11/12/2018 - Eland Oil & Gas PLC, an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, has announced, through...

United Arab Emirates >>  11/11/2018 - On behalf of the Abu Dhabi government, the Abu Dhabi National Oil Company (ADNOC) has signed an agreement with French oil and gas major Total, grantin...
Canada >>  11/8/2018 - the Canada Newfoundland and Labrador Offshore Petroleum Board announced that BHP has been successful in its bids to acquire a 100% participating inter...

Canada >>  11/7/2018 - Equinor and its partners were the successful bidders for new exploration parcels in the prolific Jeanne d’Arc basin, offshore Newfoundland. ...
Namibia >>  11/7/2018 - Tower Resources plc, the AIM listed oil and gas company with its focus on Africa, is pleased to announce that Tower Resources (Namibia) Limited, a who...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Brazil Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 |

Oil & Gas Projects in Brazil >>

More News

 

Oil & Gas Companies in Brazil >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.