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PETRONAS and Partners Win Agua Marinha Block in Brazil Bid Round

2022 Media Release - 19 Dec

Kuala Lumpur, 19 December 2022 – PETRONAS’ subsidiary, PETRONAS Petróleo Brasil Ltda. (PPBL) and partners have won the Agua Marinha exploration block during the first cycle of Brazil’s open acreage under production sharing regime bid held in Rio de Janeiro.

PPBL will hold a 20 per cent participating interest in the block located in the Campos Basin, with Petrobras (30 per cent) as the operator, TotalEnergies (30 per cent) and QatarEnergy (20 per cent).

The result of the bid for the pre-salt acreage area was announced by the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) in a live ceremony on 16 December.

PETRONAS Vice President of Exploration, Mohd Redhani Abdul Rahman said, “We are truly thrilled by the favourable outcome of the bid round. This success demonstrates our competitive edge in sustainably developing and monetising assets in the Campos Basin.

“PETRONAS remains focused to unlock more value from the assets with its partners alongside the host authorities,” he added.

PPBL recently announced the first oil discovery at the 4-BRSA-1386D-RJS well in the pre-salt Sépia oil field in the Santos Basin. It has a 21 per cent participating interest in the field.

PPBL also holds participating interests in the Tartaruga Verde (BM-C-36 Concession) and Module III of the Espadarte (Espadarte Concession) deepwater fields, as well as three deepwater exploration blocks, C-M-541, C-M-661 and C-M-715, in the Campos Basin.