TotalEnergies and partners sign PSC for Agua Marinha Block in Brazil’s Campos Basin

TotalEnergies, in partnership with Petrobras, QatarEnergy, and PETRONAS Petróleo Brasil Ltda (PPBL), has officially signed the production sharing contract (PSC) for the Agua Marinha block.

The contract was awarded during the Open Acreage under Production Sharing Regime – 1st Cycle conducted by Brazil’s National Petroleum Agency (ANP) in December 2022. The signing took place on May 31, 2023.

The Agua Marinha block is an expansive exploration area spanning 1,300 square kilometers. It is situated in the pre-salt Campos Basin, located south of the Marlim Sul field and approximately 140 kilometers offshore.

As part of the work program outlined in the contract, the consortium plans to drill at least one firm exploration well during the exploration period.

TotalEnergies will hold a 30% interest in the Agua Marinha block, with operator Petrobras also having a 30% stake. QatarEnergy and PPBL will each have a 20% interest in the block. This collaboration among the four entities will facilitate the exploration and development activities in the area.

The signing of the PSC marks a significant milestone for TotalEnergies and its co-venturers, solidifying their commitment to exploring the potential of the Agua Marinha block. With the participation of these major players in the energy industry, the consortium aims to leverage their collective expertise and resources to maximize the block’s exploration and production potential.

Kevin McLachlan — TotalEnergies Senior Vice President of Exploration said: “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 looking to exploring the block and drilling the Touro prospect.

“Offshore Brazil, with its material low-cost, low-emission resources is a core area for the Company. This block, along with the two South Santos basin concessions obtained in 2022, further reinforces our exploration portfolio in this high potential area.”