BP and partners Total, Petrobras and Petrogal were named winning bidders for eight deepwater blocks offshore Brazil in the Brazilian National Petroleum Agency’s (ANP’s) 11th bid round. BP will be operator in two of the blocks

The companies have committed to explore concession blocks FZA-M-57, FZA-M-59, FZA-M-86, FZA-M-88, FZA-M-125, and FAZ-M-127 in the Foz do Amazonas basin, BAR-M-346 in the Barreirinhas basin, and POT-M-764 in the Potiguar basin, for oil and gas resources, with the right to develop any commercial discoveries under the Brazilian concession regime.

BP will be operator with a 70% stake in block FZA-M-59, and in block BAR-M-346, with a 50% stake.

“BP is delighted with this result. It will increase our frontier exploration exposure along Brazil’s equatorial margin and plays to our strengths in deepwater. We look forward to a successful exploration programme working with our partners Total, Petrobras and Petrogal,” said Mike Daly, BP’s Executive Vice President of Exploration.

Tags: BP PLC