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GDF Suez free to begin Brazil E&P foray

French group GDF Suez is reportedly free to begin oil exploration and production activities in Brazil.

BNamericas
24/07/2014 17:02
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French group GDF Suez is reportedly free to begin oil exploration and production activities in Brazil.

 

Local regulator ANP confirmed the company's foray into Brazil's hydrocarbons sector by approving its minority acquisition of two onshore blocks, Estado de S. Paulo reported.

 

GDF agreed to purchase a 20% share of the Parnaíba basin assets from Brazilian mining giant Vale last November.

 

British giant BP and Brazil's state-run Petrobras each hold 40% interests in the blocks, located in the northeastern state of Maranhão.

 

The assets cover 6,000km2 of acreage. According to regulator ANP, exploratory drilling in the area is still at an early phase.

 

Meanwhile, ANP has approved evaluation plans for five onshore wells belonging to local firm OGpar.

 

The decision gives OGPar until 2016 to complete exploration activities at the Araguaína, Fazenda Serrinha, Morada Nova, São Luís do Vale and Esperantinópolis prospects.

 

The wells are also located in the Parnaíba basin.

 

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