QatarEnergy and Petrobras secure seven Ceará Basin exploration blocks
- Seven exploration blocks were awarded: CE-M-471, CE-M-473, CE-M-475, CE-M-477, CE-M-537, CE-M-539 and CE-M-665.
- Blocks are located in the Ceará Basin on Brazil’s northeastern Equatorial Margin with a combined area of approximately 4,700 km².
- Water depths for the blocks range from about 2,000 to 3,600 metres.
- QatarEnergy will hold a 30% participating interest while Petrobras will operate with a 70% stake; concession contracts are expected to be signed in the first half of 2027.
Award overview
QatarEnergy, in a consortium with Petrobras, won seven exploration blocks in Brazil’s 6th Concession Open Acreage Bid Round organized by the National Agency of Petroleum, Natural Gas, and Biofuels (ANP).
Blocks and location
The awarded blocks are CE-M-471, CE-M-473, CE-M-475, CE-M-477, CE-M-537, CE-M-539 and CE-M-665, situated in the Ceará Basin along Brazil’s northeastern Equatorial Margin. The blocks cover a combined area of approximately 4,700 square kilometres and lie in water depths of about 2,000–3,600 metres.
Ownership and next steps
Under the agreement QatarEnergy will hold a 30% participating interest and Petrobras will be the operator with a 70% interest. The concession contracts are expected to be signed in the first half of 2027, strengthening QatarEnergy’s upstream position in Brazil.
Source: QatarEnergy