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New Licence Partner for Wintershall Dea in Brazil’s Potiguar Basin

Source: www.gulfoilandgas.com 10/9/2019, Location: South America

Wintershall Dea farms down a 30% participating interest in its three Potiguar offshore exploration blocks POT-M-857, POT-M-863 and POT-M-865 to the subsidiary of Murphy Oil Corporation in Brazil - Murphy Brasil Exploraçao e Produçao de Petroleo e Gas Ltda. Wintershall Dea will retain a 70% participating interest and operatorship. The agreement is subject to a final regulatory approval by Brazil’s National Agency of Petroleum, Natural Gas and Biofuels, ANP.

“The farm-down is in line with Wintershall Dea’s strategy of having a balanced portfolio. Brazil plays an important role for the company, as a region for growth”, says Thilo Wieland, Member of the Management Board of Wintershall Dea and responsible for Brazil.

Hugo Dijkgraaf, Chief Technology Officer in the Management Board of Wintershall Dea comments: “We are very pleased, having Murphy as a license partner in Potiguar. We are already working with Murphy in Block 5 offshore Mexico and are now looking forward to extend our cooperation on these prolific exploration blocks offshore Brazil”. As part of the work program, a 3D seismic campaign is currently underway in the area. The three blocks cover an area of total 3,133 km² and are located in the Potiguar basin, a proven hydrocarbon system on the Equatorial Margin in North Eastern Brazil and in the vicinity to the light oil discovery Pitu.

Wintershall Dea was awarded the three blocks with a 100% participating interest including operatorship in Brazil’s 15th Concession Bidding Round in November 2018.

Currently, Wintershall Dea holds participation interest in seven exploration licenses offshore Brazil, of which four as operator.

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

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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 


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