Shell, TotalEnergies and 3R among winners in Brazil

Fossil Energy – Brazil

Brazil on Wednesday granted 59 exploratory blocks of oil and natural gas to 13 companies, including Shell, TotalEnergies and 3R Petroleum.

Shell Brasil was granted six blocks in the Santos Basin in a consortium with the Colombian Ecopetrol, while TotalEnergies won two areas in the same basin. The Brazilian company 3R Petroleum got six areas in the Potiguar Basin.

The auction totalled 422.4 million reais ($90.10 million) in signature bonus, registering a premium of 854.84%, according to data from the country’s oil regulator ANP.

The areas that were sold are located in six Brazilian states and will result in investments of 406.3 million reais in the exploratory phase of the contract.

Original Source: https://ocean-energyresources.com/2022/04/14/shell-totalenergies-and-3r-among-winners-in-brazil/