EQUINOR WINS UIRAPURU AND DOIS IRMAOS BLOCK OFFSHORE BRAZIL

June 08, 2018

Equinor, ExxonMobil and Petrogal Brasil presented the winning bid for the Uirapuru production sharing contract in the Santos basin. Petrobras exercised its right to enter the consortium and will be the operator with 30% equity.
The final equity distribution is Petrobras (30% operator), Equinor (28%), ExxonMobil (28%) and Petrogal Brasil (14%). The pre-determined signature bonus to be paid by the bidding consortium is BRL 2,65 billion (approximately USD 682 million). The Uirapuru exploration block is located in the Santos basin, north of the BM-S-8 (Carcará discovery) and North Carcara blocks, both operated by Equinor.
A consortium comprising Equinor (25%), Petrobras (45%, operator) and BP (30%) were the high bidders (16.43% profit oil) for the Dois Irmaos producing sharing contract in the Campos basin. The pre-determined signature bonus to be paid by the bidding consortium is BRL 400 million (approximately USD 103 million). The Dois Irmaos block sits adjacent to an area where Equinor with partners were awarded four high potential blocks in the 15th licensing round in March.
“We are very pleased with the opportunities secured in the 4th PSA round,” says Tim Dodson, Equinor’s executive vice president for exploration.
“The prolific basins offshore Brazil represents world class exploration acreage. The results from this and previous bid rounds have added highly prospective acreage to Equinor’s exploration portfolio, allowing us to maintain a significant activity and pursue high value prospects in Brazil in the years ahead,” says Dodson.
“The outcome of this round further strengthens our position in Brazil, considered as a core area for Equinor. We are looking forward to working with our partners, the Brazilian authorities and Pré-sal Petroleo S.A. on the development of these new blocks. We have been increasing our investments in the country in the last two years and our expectation is that this will represent more jobs, taxes and, in the future, royalties that will benefit local communities,” says Anders Opedal, Brazil’s country manager.
This adds to Equinor’s existing portfolio in the Brazilian pre-salt area, which includes BM-S-8 and Carcara North, both in Santos basin, and the BM-C-33 in the Campos basin, containing the Pao de Açucar discovery. (Source: Equinor)