[Brazil] CNOOC Petroleum Brasil Signed 4 Concession Contracts for Exploration Blocks Offshore Brazil

[escveritas]

On October 17, CNOOC Limited’s wholly owned subsidiary, CNOOC Petroleum Brasil Ltda, has entered into 4 Concession Contracts for exploration blocks offshore Brazil with the Brazilian National Agency for Petroleum and the partners in the Pelotas Basin.

The contracts were signed for a total of 4 blocks, S-M-1813 in the Santos Basin, P-M-1737/39/97 in the Pelotas Basin, acquired from the 4th Permanent Concession Offer Cycle, all located offshore Brazil. The total area is approximately 2,600 square kilometers, with water depths from 600 to 3,000 meters.

CNOOC Petroleum Brasil Ltda holds 100% interests in block S-M-1813 and is the operator. CNOOC Petroleum Brasil Ltda owns 20% non-operating interests in each of the three blocks of P-M-1737/39/97. Petrobras holds 50% operating interests in P-M-1737/39/97 and Shell holds 30% non-operating interests