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Petrobas, BP, and China National Petroleum Corporation

A consortium of Petrobras, BP, and China National Petroleum Corporation (CNPC) has begun drilling its first well in the offshore Brazil Peroba subsalt area. The group acquired the area during Brazil’s third subsalt production-sharing auction in October 2017. Peroba is located approximately 300 km offshore Rio de Janeiro state. The block comprises an area of nearly 1100 km2, with water depths of 2100–2600 m, Petrobras said. It lies between the Lula Field to the north and the Sapinhoa Field to the west. Lula and Sapinhoa are Brazil’s two biggest oil and natural gas producers. Peroba was considered one of the top areas available during the subsalt production-sharing auction, which triggered heated bidding from three separate consortia. Petrobras owns a 40% operating stake in the field, while BP has 40% and CNPC has 20%.


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