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Wintershall Dea awarded two blocks in Brazil's 16th bidding round

Source: www.gulfoilandgas.com 10/11/2019, Location: South America

In Brazil’s 16th Bidding Round for oil and gas exploration blocks, Wintershall Dea was awarded two offshore blocks in the Santos and Campos basins with its partners Chevron and Repsol.

Hugo Dijkgraaf, Member of the Management Board of Wintershall Dea and responsible for Exploration comments: 'We are very pleased with the awards in this competitive bid round. Brazil is one of the world’s most promising oil and gas regions. The blocks we won are an excellent fit to our plans in Brazil. The country is an important pillar in our global growth strategy.'

Wintershall Dea will hold an interest of 20% in the blocks S-M-766 and C-M-845, alongside its partners Repsol and Chevron (operator). The blocks contain pre-salt targets. A work program will include 3D seismic acquisition and prospect maturation.

Valerie Bosse, Managing Director of Wintershall Dea in Brazil says: 'The blocks are located in the immediate vicinity of three licenses, where we already have exploration activities. They are a strong complement to our exploration portfolio, giving us further access to a maturing and emerging basin. We now look forward to start the exploration work together with our partners.'

The blocks are located 150 kms south-east of the pre-salt discovery Libra, in a new emerging area. They are adjacent to the exploration blocks S-M-764, C-M-821 and C-M-823 where Wintershall Dea, Chevron and Repsol are already partners.

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

In the 16th Bidding Round, thirty-six blocks were offered in the sedimentary basins of Pernambuco-Para?ba, Jacu?pe, Camamu-Almada, Campos and Santos, with an area of 29,300 sq kms.

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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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