AUCTION BLOCKS WITHOUT OFFERS DON’T AFFECT THE 60 NEW PLATFORMS PROGRAMMING, ASSESS ANP

Nov 8, 2019

The National Agency of Petroleum, Natural Gas and Biofuels estimates that about 60 offshore platforms will be installed on the Brazilian coast by 2030, mostly in the pre-salt. ANP Director-General Décio Oddone stressed that the lack of bids in the Sepia and Atapu fields, in the TOR round held last Wednesday (7), does not impact this programming because Petrobras already operates in these areas.

Oddone explained that the platforms that will produce the original oil from the auctions are already contracted. The P-70, under construction at a Chinese shipyard, is expected to be installed at Atapu in 2020. The Sepia platform is expected by 2021. He recalled that the Buzios field has four platforms in operation. “We will see in the coming years the drilling of hundreds of maritime wells and the installation of dozens of platforms”, he projected.

The director general said that there will also be no impact because of the fields that were not bid in the 6th round of production sharing. “Not bidding in the four of the blocks also has no relevant impact because the ANP does simulations and analyzes of geological risks assuming that part of the blocks will not have oil discovery and others yes,” he explained. He mentioned the field of Aram, auctioned off, which has lower exploratory risk and high productivity compared to the others offered.

The 6th Round raised $ 5 billion, but had only bid for one of the five fields in dispute. Petrobras will be the operator of the Aram field in the Santos Basin. The company has 80% participation in the winning consortium, which also has the Chinese CNODC Brazil with 20%. The consortium gave the only bid for this field, offering the minimum percentage of oil surplus of 29.96%. The signing bonus is R $ 5.05 billion and the expected investments are around R $ 278 million.

Source: Portos e Navios

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