Petronas, TotalEnergies, QatarEnergy partner Petrobras for ultra-deepwater wildcat offshore Brazil

A Petrobras-led consortium has signed the production sharing contract (PSC) for the ultra-deepwater Agua Marinha exploration block in the Campos basin offshore Brazil.

International partners Malaysia’s Petronas, TotalEnergies of France and QatarEnergy plus Petrobras won the block during the first cycle of Brazil’s open acreage under production sharing regime held by Brazil’s National Petroleum Agency (ANP) in December 2022.

The 1300-square kilometre block has water depths of up to 2600 metres in the pre-salt Campos Basin south of the Marlim Sul field and about 140 kilometres from shore. The work programme includes the drilling of one firm exploration well during the exploration period, noted TotalEnergies.

“The signature of the PSC for Agua Marinha expands our presence in this promising area of the pre-salt Campos Basin, alongside our three strategic partners, and we are looking forward looking to exploring the block and drilling the Touro prospect,” said Kevin McLachlan, senior vice president, exploration of TotalEnergies.

“Offshore Brazil, with its material low-cost, low-emission resources is a core area for the company. This block, along with the two South Santos basin concessions obtained in 2022, further reinforces our exploration portfolio in this high potential area.”

Petrobras will operate the Agua Marinha block PSC with a 30% interest, TotalEnergies also has 30% while Petronas and QatarEnergy are on 20% apiece.

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“This milestone reinforces Petronas’ steadfast commitment in developing and monetising assets in the Campos basin, to ensure greater alignment with our growth agenda in a continuously evolving energy landscape,” Petronas’ vice president of exploration, Mohd Redhani Abdul Rahman, said.

“We will continue to collaborate closely with the host authority and our partners to unlock the block’s hydrocarbon potential,” he added.

In Brazil, Petronas also holds interests in the Tartaruga Verde (BM-C-36 concession) and Module III of the Espadarte deep-water fields, as well as three deep-water exploration blocks — C-M-541, C-M-661 and C-M-715 — in the Campos basin, and pre-salt Sepia oilfield in the Santos basin.