QatarEnergy acquires Brazilian offshore asset

Qatar

DOHA, December 20, 2022 – QatarEnergy and partners have acquired interest in an offshore exploration block in Brazil, the Qatari NOC announced on Monday.

Under the agreement, QatarEnergy will hold a 20% working interest in the Agua-Marinha PSC alongside operator Petrobras with a 30% share, TotalEnergies with a 30% share and Petronas Petroleo Brasil with the remaining 20% stake.

The 1,300-square-kilometre play has water depths of around 2,000 metres and is located off the coast of Rio de Janeiro in the Campos Basin.

The acquisition is expected to close in H1 2023.

Cost of the deal was not disclosed.

The sale falls under Brazil’s National Agency of Petroleum, Natural Gas and Biofuels’ permanent offer bid round.

Read our latest insights on:

• Brazil
• Qatar

Previous

Egypt confirms large finds on offshore Nargis play

Next

Eni to launch Italy’s first CCS project