BP returns the Pau Brasil Plock and area in the Barreirinhas Basin to ANP

Sept. 12 (PN) British oil company BP restructured its portfolio of exploration assets in Brazil shortly after announcing its largest discovery in 25 years, in the Bumerangue block in the Santos Basin pre-salt layer. The company returned the Pau Brasil block, also in the Santos Basin, to the federal government after the exploration campaign indicated a dry well.

As a reminder, in June 2024, BP drilled a well in Pau Brasil, which was given the technical designation 1-BP-12D-RJS, in a water depth of 2,283 meters. The company also notified the ANP in August of last year of the discovery of oil traces in the area. However, after a more detailed analysis of the results, the company decided to abandon the well and return the block.

Acquired in the 5th Oil Sharing Round in 2018, with a surplus oil percentage of 63.79%, the block was operated by bp (50%) in partnership with CNOOC Petroleum (30%) and Ecopetrol (20%).

BP also returned block BAR-M-346, located in the Barreirinhas Basin, off the coast of Maranhão, due to difficulties in the environmental licensing process. The asset had been acquired in 2013 during the 11th ANP Bidding Round. The consortium responsible for exploration of the area was formed by bp (50%, operator), in partnership with TotalEnergies (50%).