QGEP leaves Pernambuco-Paraíba Basin

09/13/18

The Company had already requested postponement of the exploratory period of PEPB-M-894 and 896 last year

 

QGEP returned blocks PEPB-M-894 and PEPB-M-896, in the Pernambuco-Paraíba Basin. The company operated the two blocks acquired in the 11th round in 2013 with a 30% stake, in partnership with Petra. With this, the operator will no longer have exploratory concessions in the basin.

The exploratory period of concessions ended this month. The commitments assumed in the PEM of both blocks was R $ 10.8 million and the signing bonus was R $ 900 thousand. The forecast was to drill two wells in 2019 or 2020 if it decided to remain with the areas.

Postponement in the wake of CNPE

In 2017, the company requested a two-year delay in the exploratory period for these two blocks, in the wake of the CNPE resolution authorizing the requests, due to the crisis in the sector and the difficulties of licensing the areas of the 11th and 12th rounds.

Also in the 11th round, QGEP acquired as operator three more blocks: one in the Foz do Amazonas Basin (FZA-M-90) and two in Pará-Maranhão (PAMA-M-265 and PAMA-M-337). And three other blocks as a partner. The three areas of the 11th round where QGPE is operator had the exploratory program renewed this year.

The only operators with exploratory concessions in Pernambuco-Paraíba are Petrobras and Niko.

Source: Brasil Energia

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