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30/10/2017 - 19:11hs
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Qatar part of group that won pre-salt block bid

State-owned Qatar Petroleum is part of a consortium that won the tender for the Alto de Cabo Frio Oeste area, in the Santos Basin, alongside Shell and Chinese company CNOOC.



São Paulo – Qatar Petroleum is part of a consortium that won bids for oil blocks at the 3rd Production Sharing Bid Rounds held Friday (27) by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). The group, formed by Shell, Chinese company CNOOC and QPI Brasil – a Brazilian branch of the Qatari company – acquired the block Alto de Cabo Frio Oeste, in the Santos basin, in the southwest coast of Brazil.

As per the consortium's proposal, the Brazilian federal government will retain 22.87% of the production, since the contract is a production-sharing arrangement. Shell will be the block’s operator, with a 55% share. QPI Brasil will retain 25% and has CNOOC secured a 20% stake.

“We are pleased that our consortium was awarded this block in Brazil, which contains some of the most promising hydrocarbon prone areas in the world,” said the president of Qatar Petroleum, Saad Sherida Al-Kaabi, according to a statement from the company. “This important achievement is another result of our strategy to expand our international upstream footprint and further expand our presence in Brazil, with which we have excellent relations,” he added.

*Translated by Sérgio Kakitani

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