Operations

Exploraction

During the 11th  Licencing Round promoted by the National Petroleum, Gas and Biofuels Agency (ANP), Novapetroleo acquired 5 E&P Concessions in the Reconcavo Basin, Bahia State. Blocks REC-T-84, REC-T-105, REC-T-106, REC-T-115 e REC-T-116 cover an area of 142,3 km2. The Minimum Work Program commited for these blocks require the acquisition of 117,5 km2 of 3D Seismic Surveys and the drilling of at least 6 explorations wells.

ANP's 12th Bid Round agreements were executed on May 15, 2014. In this Bid Round a consortium formed by Novapetroleo and Petrobras (50% share each) acquired seven exploration and production concessions in the onshore basin of Sergipe-Alagoas. The concessions have up to five years in the exploratory phase, and over 27 years of production in case of commercial discoveries.

It is expected that 5 or 6 wells will be drilled during the first exploration period, which extends to 2019.

Geologicaly and geographically, the seven blocks fall into two groups, each one operated by one of the partners.

Production

In April 2013 Novapetroleo took over the operations and 100% ownership of the Fazenda Santo Estevão, Fazenda Rio Branco, Sauípe and Tico-Tico Fields, in the Recôncavo Basin, Bahia State, previously owned by W Petróleo.

Map Of Operation