QGEP Gets Nod to Develop Atlanta Field (Brazil)

Brazil’s Queiroz Galvão Exploração e Produção on has been given the approval by the National Agency for Oil, Natural Gas and Biofuels (ANP) of the Atlanta Field Development Plan.

Located in Block BS-4, the Atlanta Field is a post-salt oil field which is positioned 185 km off the coast of Brazil in the Santos Basin.

QGEP is the operator of the Block and owns a 30% participating interes. The other participants in the consortium are OGX Petróleo e Gás Participações S.A, which holds 40%*, and Barra Energia do Brasil Petróleo e Gás Ltda, with 30%.

The Santos Basin, located in the southern region of the Brazilian coast, which stretches from the south of the Rio de Janeiro state to the north of the Santa Catarina state, has an area of approximately 352,260 sq. km. It is currently considered Brazil’s most promising Exploration and Production area, thanks to recent discoveries in the pre-salt layer, which could lead the region to rank among the world’s ten largest oil reserves.

 

January 14, 2013

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