Subject to regulatory approvals, BP Energy do Brasil Ltda. will acquire 30% interests in blocks POT-M-663 and POT-M-760 (contract BM-POT-16) and 40% interests in blocks POT-M-665, POT-M-853, and POT-M-855 (contract BM-POT-17).
The blocks are 40-110 km offshore Rio Grande do Norte and Ceara states in 50-2,100 m of water.
Interests in the BM-POT-16 blocks will be Petrobras and BP, 30% each, and Petrogal Brasil SA and IBV, 20% each.
BM-POT-17 interests will be Petrobras and BP, 40% each, and Petrogal Brasil, 20%.
The contracts were awarded in Brazil’s seventh round in 2005.