QatarEnergy wins 30% stakes in seven offshore exploration blocks in Brazil
QatarEnergy has secured interests in seven offshore exploration blocks in Brazil through a partnership with Petrobras following the sixth open bidding round organised by Brazil’s National Agency for Petroleum, Natural Gas and Biofuels.
Under the partnership, QatarEnergy will hold a 30% interest, while Petrobras will hold 70% and serve as operator.
Seven blocks in Ceará Basin
The seven exploration blocks are:
- CE-M-471
- CE-M-473
- CE-M-475
- CE-M-477
- CE-M-537
- CE-M-539
- CE-M-665
They are located in the Ceará Basin along Brazil’s northeastern equatorial margin.
Together, the areas cover approximately 4,700 square kilometres and are located in water depths ranging from around 2,000 to 3,600 metres off Brazil’s northeast coast.
QatarEnergy expands Brazil upstream portfolio
HE Eng. Saad Sherida Al Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy, welcomed the award, saying the blocks add promising acreage to the company’s exploration and production portfolio in Brazil.
He also thanked Petrobras, Brazil’s National Agency for Petroleum, Natural Gas and Biofuels and the Brazilian authorities for their support, adding that QatarEnergy looks forward to strengthening its partnerships and working with stakeholders during the exploration process.
Agreements expected in first half of 2027
The concession agreements for the seven areas are expected to be signed during the first half of 2027.
The award further strengthens QatarEnergy’s position in Brazil’s upstream sector and expands its exploration footprint in one of the country’s major offshore basins.
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