Major international consortium cops ultra-deepwater Agua Marinha block in Brazil’s Campos Basin

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A consortium led by Petrobras has successfully signed the production sharing contract (PSC) for the Agua Marinha exploration block in the ultra-deepwater Campos basin, located offshore Brazil. This block was awarded during Brazil’s first cycle of open acreage under the production sharing regime, conducted by Brazil’s National Petroleum Agency (ANP) in December 2022. The consortium comprises international partners, including Petronas from Malaysia, TotalEnergies from France, and QatarEnergy, in addition to Petrobras.

Covering an area of 1300 square kilometres, the Agua Marinha block is situated in the pre-salt Campos Basin, south of the Marlim Sul field, approximately 140 kilometres offshore. Water depths in this area can reach up to 2600 metres. As part of the exploration period, the work program entails drilling one firm exploration well, as noted by TotalEnergies.

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Kevin McLachlan, Senior Vice President of Exploration at TotalEnergies, expressed enthusiasm, stating, “The signature of the PSC for Agua Marinha expands our presence in this promising area of the pre-salt Campos Basin, alongside our three strategic partners, and we are looking forward to exploring the block and drilling the Touro prospect.” He further emphasized that offshore Brazil is a key area for the company due to its significant low-cost, low-emission resources. The addition of the Agua Marinha block, along with the two South Santos basin concessions obtained in 2022, strengthens TotalEnergies’ exploration portfolio in this high-potential region.

Under the PSC for the Agua Marinha block, Petrobras (the operator) and TotalEnergies eac have 30% stakes, while Petronas and QatarEnergy each hold a 20% stake.

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