Petronas signs PSC for Agua Marinha block off Brazil
Petronas Petróleo Brasil (PPBL), a subsidiary of Malaysian state-owned energy company Petronas, has entered into a production sharing contract (PSC) with Petrobras, TotalEnergies, and QatarEnergy for the Agua Marinha exploration block in the Campos basin, offshore Brazil, Petronas said on May 31.
The block, covering an area of 1,300 km2 with water depths of up to 2,600 m, was secured by PPBL and its consortium partners during Brazil's open acreage bid in December 2022.
As per the terms of the PSC, Petrobras will act as the operator with a 30% participating interest, while TotalEnergies and QatarEnergy will hold 30% and 20% participating interests, respectively. PPBL will hold a 20% participating interest in the block.
PPBL already has participating interests in the Tartaruga Verde and Espadarte deepwater fields, along with three exploration blocks in the Campos basin and the pre-salt Sépia oil field in the Santos basin.