QGEP is block BS-4’s operator

Queiroz Galvão Exploração e Produção closes February as BS-4’s operator. This block comprises the heavy oil fields of Atlanta and Oliva and has a total volume of over two billion oil barrels in situ. Located in the Santos Basin, the block is 185km from the coast, in an area of intensive prospection of pre-salt layers in the Santos Basin and close to the important Libra and Franco discoveries, potentially the largest in the region.

The transfer of 30% of BS-4‘s concession and operation rights to QGEP was approved on February 16 by the National Oil, Natural Gas and Biofuel Agency (ANP). In August, 2011, the Company signed a purchase agreement for the acquisition of 30% of the 40% interest that belonged to Shell Brasil Petróleo Ltda for US$ 157.5 million, while the remaining 10% was acquired by Barra Energia.

“BS-4 substantially increases our production potential in the mid term. Our highly qualified technical staff will conduct this operation and optimize this asset’s production. This operation is very important for QGEP, as it reaffirms our qualification as an A Operator,” declared Danilo Oliveira, Director.

Updated in  2014-01-08T16:40:40
All the dates of this page are presented in official timezone of Brasilia - Brazil.


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