Brazilian state-owned oil company Petrobras plans to increase its participation in petroleum exploration in Angola. In a note published Wednesday, May 17, the company reports that it obtained concessions to explore three new shallow and deep water blocs.
Petrobras did not say how much it spent to obtain the concessions. The company is currently active in Angola in two other blocs, one of them already under production and the other in the exploratory phase.
"With the inclusion of these three new blocs, Petrobras is solidifying a position of strong adherence to its Strategic Plan, inaugurating a new phase in Angola in its activity as an operating company," the company affirms.
In bloc 6, located in shallow water, Petrobras’ work program extends over four years and will be focused on making economically viable the petroleum deposit discovered around two decades ago. The bloc will also be the site of attempts to discover new exploratory areas for drilling and expanding reserves.
Bloc 26, located in deep waters in the Benguela basin, off the southern Angola coast, will be the site of drilling in the coming years.
Bloc 15, an area which has yet to be investigated, also in deep waters, is located within a perimeter that encompasses petroleum fields with reserves on the order of 3.5 billion barrels and a daily production of approximately 600 thousand barrels.