Equinor, ExxonMobil and Petrogal Brasil presented winning bid for Uirapuru production sharing contract
OREANDA-NEWS. June 08, 2018. Equinor, ExxonMobil and Petrogal Brasil presented the winning bid (75.49% profit oil) for the Uirapuru production sharing contract in the Santos basin. Petrobras exercised its right to enter the consortium and will be the operator with 30% equity.
The final equity distribution is Petrobras (30% operator), Equinor (28%), ExxonMobil (28%) and Petrogal Brasil (14%). The pre-determined signature bonus to be paid by the bidding consortium is BRL 2,65 billion (approximately USD 682** million). The Uirapuru exploration block is located in the Santos basin, north of the BM-S-8 (Carcar? discovery) and North Carcar? blocks, both operated by Equinor.
A consortium comprising Equinor (25%), Petrobras (45%, operator) and BP (30%) were the high bidders (16.43% profit oil) for the Dois Irm?os producing sharing contract in the Campos basin. The pre-determined signature bonus to be paid by the bidding consortium is BRL 400 million (approximately USD 103**million). The Dois Irm?os block sits adjacent to an area where Equinor with partners were awarded four high potential blocks in the 15th licensing round in March.
“We are very pleased with the opportunities secured in the 4th PSA round,” says Tim Dodson, Equinor’s executive vice president for exploration.
“The outcome of this round further strengthens our position in Brazil, considered as a core area for Equinor. We are looking forward to working with our partners, the Brazilian authorities and Pr?-sal Petroleo S.A. on the development of these new blocks. We have been increasing our investments in the country in the last two years and our expectation is that this will represent more jobs, taxes and, in the future, royalties that will benefit local communities,” says Anders Opedal, Brazil’s country manager.
** Based on exchange rate from Bloomberg 7 June 2018 for BRL/USD = 0.2573