Petrobras has signed an agreement with Galp Energia and Partex for exploration and production in four blocks of the Lusitaniana basin offshore Portugal north of Lisbon. With a 50% stake, Petrobras will be operator. Galp Energia and Partex, hold 30% and 20% interests, respectively.
Offshore staff
RIO DE JANEIRO, Brazil --Petrobras has signed an agreement with Galp Energia and Partex for exploration and production in four blocks of the Lusitaniana basin offshore Portugal north of Lisbon. With a 50% stake, Petrobras will be operator. Galp Energia and Partex, hold 30% and 20% interests, respectively.
The Camarão, Amêijoa, Mexilhão, and Ostra blocks are in water depths ranging from 200 to 3,000 m (656 to 9,842 ft) and cover a total area of 12,000 sq km (4,633 sq mi).
The agreement foresees an eight-year exploration period, which will involve seismic acquisitions and exploratory well drilling. Initial investments are expected to range from $20 to $30 million.
