Equinor has today been awarded a new exploration block in Brazil’s Santos basin as part of the country’s 5th Open Permanent Concession bid round.
The S-M-1617 license was secured by Equinor on a 100% basis with a total signature bonus of around 30.5 million Brazilian Real (around US $5.5 million), the company said in a release June 17.
“The license is in close proximity to the S-M-1378 block we already own, an area with strong potential that we can leverage to reinforce our position in the Santos basin…and provides [Equinor] with longevity options for Brazil,” said Veronica Coelho, senior vice-president and Brazil country manager, Equinor.
The S-M-1617 license lies 400 km off the coast, in water depths up to 2,600 m, about 60 km from the S-M-1378 block.
Equinor said it will now “work to conduct necessary geological and geophysical assessments for future exploration activities.”
