Petrobras and Sonangol Sign Four Production Deals

Petrobras on Friday signed four shared production agreements with the Sociedade Nacional de Combustíveis de Angola (Sonangol) relative to Blocks 6/06, 15/06, 18/06, and 26.

Block 6/06 is located in shallow Kwanza Basin waters, and covers a total area of 4,930 square kilometers. The agreement's initial phase work program foresees 3D seismic data acquisition and the drilling of two exploratory wells. Petrobras is the operating company, and holds 40% of the rights.

Block 18/06 is in deep Baixo Congo Basin waters, one of the most prolific oil industry regions in Angola, and south of the country's important oil-producing areas. The block encompasses an area of 4,611 square kilometers, and, with 30% participation, Petrobras is its operating company. In the initial phase, the agreement foresees 3D seismic data acquisition and the drilling of seven exploratory wells.

Block 26 is south of Angola, in deep Benguela Basin waters, with a total area of 4,838 square kilometers. This is an exploratory frontier area. The integration of the block's geological and geophysical data, and analogies with Western African coast and Brazilian Eastern coast oil models attracted Petrobras' interest to it. The company will operate as the block's operator, holding 80% of the rights to it. The agreement foresees seismic data acquisition and the drilling of two pioneer wells.

Block 15/06 is also located in the Baixo Congo Basin, and is part of the prolific alignment of producing fields found in deep Angolan waters. Its area is 3,025 square kilometers. Petrobras will perform there as a non-operating partner, holding 5% of the rights.

Angola is one of Petrobras' investment priorities, and the company has had a presence there since 1979. The signature of these four exploratory block agreements is strictly in line with Petrobras' Strategic Plan and inaugurates a new phase in Angola, where it will perform as an operator for the first time.