BP will drill its first exploration well in Pau Brazil – area auctioned in the fifth round of production sharing – between 2021 and 2022. The British company’s plan foresees the initial drilling of a well, soon after completion of the seismic evaluation work.
The group will acquire spec (speculative) data for the block and waits for IBAMA to grant environmental licenses so that the seismic companies can start the first mappings. In addition the work program for the area provides for the drilling of three more exploratory wells. The drilling rig tendering process should start in 2021.
BP holds a 50% stake in Pau Brasil, in partnership with CNOOC Petroleum (30%) and Ecopetrol (20%). At the ANP auction, the consortium paid R $ 500 million in bonuses and 63.79% of excess oil.
The oil company has 21 other assets in Brazil, with 20 exploration areas and a development project located in the basins of Foz do Amazonas, Barreirinhas, Potiguar and Campos. In all, counting on Pau Brasil, the British group operates five projects.
Source: Brazil Energy Magazine