Portugal

By OGJ editors
HOUSTON, May 3 – A subsidiary of Brazil’s Petroleo Brasileiro signed an agreement to explore three blocks in the undrilled Alentejo basin in the Atlantic off southwestern Portugal.

Braspetro BV will become operator of the Gamba, Lavagante, and Santola blocks with 50% interest. The blocks total 9,000 sq km in 200-3,000 m of water between Lisbon and Sagres.

The Company will be the operator of the three blocks. The region of the blocks covers an area of some 9,000 square kilometers, where depths range from 200 to 3,000 meters.

To the north off central Portugal, Braspetro already operates four blocks in partnership with Portugal’s Galp Energia and Partex Oil and Gas (Holdings) Corp. in the Peniche basin. The Camarao, Ameijoa, Mexilhao, and Ostra blocks total 12,000 sq kmin more than 2,000 m of water.