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TotalEnergies and its joint venture partners have secured new exploration licence for the Agua Marinha block offshore Brazil.

The licence has been issued during the country’s first cycle of open acreage under production sharing regime held by Brazil’s National Agency of Petroleum, Natural Gas, and Biofuels (ANP).

Brazilian firm Petrobras will operate the Agua Marinha block with a 30% stake.

Other partners in the Agua Marinha exploration block include Malaysia’s state energy firm Petronas subsidiary Petróleo Brasil Ltda (PPBL) (20%), TotalEnergies (30%), and QatarEnergy (20%).

TotalEnergies exploration senior vice-president Kevin McLachlan said: “TotalEnergies is pleased to expand its presence in the Campos Basin with this new exploration block, alongside three strategic partners.

“This is in line with our strategy to focus exploration on selected high potential basins which can deliver material low cost, low carbon intensity resources.”

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By GlobalData

Covering a total area of 1,300km2, the Agua-Marinha block is in water depths of about 2,000m off the coast of Rio de Janeiro in the prolific Campos Basin. 

Commenting on the licence award, QatarEnergy president and CEO and Qatar Minister of State for Energy Affairs Saad Sherida Al-Kaabi said: “We are pleased to achieve this latest successful joint-bid, which adds further highly prospective acreage to our upstream portfolio in Brazil, and particularly in the prolific Campos Basin.”

Under the first cycle of permanent production sharing offer (OPP), four out of 11 blocks on offer in the Santos and Campos Basins offshore Brazil were acquired.

Other three blocks include Norte de Brava, which has been awarded to Petrobras; Bumerangue secured by BP Energy; and Sudoeste de Sagitário block acquired by Petrobras (60%) and Shell Brasil (40%).

Petrobras said in a statement: “The offer of the percentage of the oil surplus to be made available to the Brazilian government was the only criterion adopted by the ANP to define the winning proposal, with the fixed value of the signature bonus already included in the tender protocol.”