Petrobras Scoops up Blocks Offshore New Zealand

Petrobras has acquired the rights for Block 2, located in the Raukumara Basin, offshore New Zealand. On June 1, Petrobras and the Government of New Zealand formalized the agreement, and the company was granted the Petroleum Exploration Permit for Block 2. As part of the agreement, Petrobras has to execute a minimum work program, divided into three stages: the acquisition of 3,000 square kilometers of 2D seismic, then 800 square kilometers of 3D seismic, and the drilling of one exploration well during the next five years, unless Petrobras chooses to surrender the permit early.

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