CNOOC subsidiary secures contracts for exploration blocks off Brazilian coast

CNOOC Petroleum Brasil Ltda, a wholly owned subsidiary of CNOOC Limited, has entered into four concession contracts for exploration blocks offshore Brazil with the Brazilian National Agency for Petroleum and the partners in the Pelotas Basin, in an announcement on Thursday.

The contracts were signed for a total of four blocks, S-M-1813 in the Santos Basin, and P-M-1737/39/97 in the Pelotas Basin, acquired from the 4th Permanent Concession Offer Cycle, all located off the coast of Brazil.

The total area is approximately 2,600 square kilometers, with water depths between 600 to 3,000 meters, it added.

CNOOC Petroleum Brasil Ltda holds 100 percent interests in block S-M-1813 and is the operator. CNOOC Petroleum Brasil Ltda owns 20 percent non-operating interests in each of the three blocks of P-M-1737/39/97.

Petrobras holds 50 percent operating interests in P-M-1737/39/97, while Shell holds 30 percent non-operating interests.

zhengxin@chinadaily.com.cn