Petrobras in Gabon pre-salt push

Petrobras in Gabon pre-salt push

Petrobras has its sights set on pre-salt plays off West Africa after it bought into a pair of assets off Gabon.
Eoin O'Cinneide 17 June 2011 08:51 GMT

The Brazilian oil giant has snapped up 50% of each of UK independent Ophir Energy’s stakes in two blocks in the region.

In return for “making a promoted contribution towards the cost of an agreed work programme”, Petrobras has taken slices in Ophir’s production sharing agreements at the Mbeli and Ntsina blocks.

“Under the agreement, Petrobras has committed to participate in an initial work programme which will include the acquisition of at least 2,000 square kilometres of 3D seismic data,” a statement from London-headquartered Ophir read today.

“The acquisition and processing parameters will be specifically designed to image deep pre-salt potential that has not been the focus of previous exploration in the area.

“After completion of the initial work programme, Petrobras may elect to continue and make a promoted contribution towards the first and second exploration wells to complete its earning obligations or withdraw from the PSCs.”

The Brazilian outfit also has the option of taking over operation of both assets.