A consortium comprising Qatar Petroleum (QP), Shell, and China National Offshore Oil Corporation (CNOOC) won the bid for the Alto de Cabo Frio-Oeste block in the prolific Santos hydrocarbon basin offshore Brazil.

The block was offered as part of Brazil’s third production sharing bidding round, which covered four blocks located in the pre-salt polygon region in the Santos and Campos basins: Pau Brasil, Peroba, Alto de Cabo Frio-Oeste, and Alto de Cabo Frio-Central.

The selection results were announced by Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) at the public bidding session held recently in Rio de Janeiro, when participants submitted their bids for the various blocks on offer and the winners of each block were announced upon opening of the bids at the same event.

Speaking on this development, Saad Sherida Al-Kaabi, President and CEO of Qatar Petroleum said they are pleased that the consortium was awarded this block in Brazil. He said that this block contains some of the most promising hydrocarbon prone areas in the world.

We hope that the exploration efforts, which will commence soon with our consortium partners, will be a success. I would like to take this opportunity to thank the Brazilian authorities for the transparent and timely process, and to express our gratitude to our consortium partners, Shell and CNOOC for the excellent collaboration on this opportunity.’

The relevant legal agreements, including the production sharing agreement, are expected to be signed between the Brazilian authorities and the consortium members in December of this year.

Visit the Qatar Petroleum website at qp.com.qa for more information.