Doha – Mubasher: A global consortium comprising Qatar Petroleum, Shell, and China National Offshore Oil Corporation (CNOOC) has been awarded the bid of the Alto de Cabo Frio-Oeste block in the prolific Santos hydrocarbon basin offshore Brazil.
The awarded block is well-known for its hydrocarbon reserves in the "pre-salt polygon" region in the Santos and Campos basins, Qatar Petroleum added in a statement.
The block, spanning about 1,385 kilometres square, was offered as part of Brazil's third production sharing bidding round of four blocks located in the Santos and Campos basins, including, Pau Brasil, Peroba, Alto de Cabo Frio-Oeste, and Alto de Cabo Frio-Central, according to the statement.
On 27 October, the Brazilian National Agency of Petroleum, Natural Gas, and Biofuels (ANP) had announced the selection results at the public bidding session held in Rio de Janeiro.
The relevant agreements, including the production sharing agreement, are forecasted to be signed between the Brazilian authorities and the consortium members in December 2017.
