A consortium comprising Qatar Petroleum, Shell and China National Offshore Oil Corporation has won a contract to explore and share deep-water production off the coast of Brazil.
Qatar Petroleum said in a statement that the region, located in the Alto de Cabo Frio-Oeste block in the prolific Santos hydrocarbon basin is known for its large hydrocarbon reserves in pre-salt polygon region.
The Alto de Cabo Frio-Oeste is about 1,385 square kilometres big and is one of four blocks offered by Brazil in the third production sharing bidding round, which covered four blocks in the Santos and Campos basins including Pau Brasil, Peroba, Alto de Cabo Frio-Oeste and Alto de Cabo Frio-Central.
The relevant agreements, including the production sharing agreement are expected to be signed between Brazilian authorities and the consortium members in December.
Qatar Petroleum is a government-owned company responsible for various investments in the oil and gas industry in the country and abroad including in Greece and Malaysia.