CNODC has not taken up an option to acquire an additional 5% in the Búzios field production-sharing contract in Brazil’s presalt Santos basin.
(Photo: André Ribeiro / courtesy Petrobras)
The FPSO P-76 operates at the Búzios field offshore Brazil.
Offshore staff
RIO DE JANEIRO – CNODC Brasil Petróleo e Gás (CNODC) has not taken up an option to acquire an additional 5% in the Búzios field production-sharing contract in Brazil’s presalt Santos basin.
Earlier, CNOOC Petroleum Brasil did exercise its option for a further 5%. So, pending regulatory approvals, operator Petrobras will now hold 85% of the exploration and production rights of the surplus volume of the Transfer of Rights for the Búzios field, while CNOOC will hold 10% and CNODC 5%.
As for the Búzios shared reservoir, including the portions of the Transfer of Rights Agreement and the BS-500 Concession Agreement (100% Petrobras), Petrobras has 88.99%, CNOOC 7.34%, and CNODC 3.67%.
