Petróleo Brasileiro SA (Petrobras) signed agreements with BP Energy do Brasil Ltda (BP) to take over BP's entire stakes in six ultra-deepwater blocks, offshore northern Brazil, some 120 km from the state of Amapá, in an exploratory frontier on the Brazilian equatorial margin.
The blocks—FZA-M-57, FZA-M-59, FZA-M-86, FZA-M-88, FZA-M-125, and FZAM-127—were acquired by the consortia in the 11th bidding round of Blocks of the National Agency of Petroleum, Natural Gas and Biofuels (ANP) in 2013.
Blocks FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125 and FZA-M-127 in the Foz Do Amazonas basin are owned by Petrobras (30%), Total (40%), and BP (30%). Petrobras signed an agreement to assume operation and Total’s stakes in these contracts, still subject to ANP approval, in September 2020 (OGJ Online, Sept. 28, 2020). The FZA-M-59 block is owned by a consortium of Petrobras (operator, 30%) and BP (70%).
The agreement with BP will allow Petrobras to hold 100% interest in these six blocks. Completion of the transfer is subject to regulatory approvals.