QatarEnergy wins seven Brazil offshore exploration licenses

08/10/2026 07:38 AST

QatarEnergy, in a consortium with Petrobras, won seven exploration blocks in the 6th Concession Open Acreage Bid Round organized by Brazil's National Agency of Petroleum, Natural Gas, and Biofuels (ANP).

In a statement on Thursday, QatarEnergy said the awarded exploration blocks (CE-M-471, CE-M-473, CE-M-475, CE-M-477, CE-M-537, CE-M-539 and CE-M-665) are located in the Ceara Basin, along the northeastern Equatorial Margin of Brazil. QatarEnergy will hold a 30% participating interest, alongside operator Petrobras, which will hold 70%.

Commenting on this occasion, HE Minister of State for Energy Affairs and the President and CEO of QatarEnergy Eng. Saad bin Sherida Al Kaabi said: "We are pleased with the success of these bids, which add prospective acreage to our upstream portfolio in Brazil."

"I would like to thank our valued partner Petrobras, with whom we worked closely on this partnership, as well as ANP and the Brazilian authorities for their valuable support. We look forward to further strengthening our partnership, and to work with all stakeholders for a successful exploration," His Excellency added.

The concession contracts further strengthen and expand QatarEnergy's upstream position in Brazil and are expected to be signed in the first half of 2027.

The Equatorial Margin blocks have a combined area of approximately 4,700 sq km and are situated in water depths of about 2,000-3,600 m off the northeastern coast of Brazil in the Ceara Basin.

QNA