A global consortium comprising Qatar Energy, France's Total Energies and Malaysia's Petronas has won a production-sharing contract in the Sepia oil field in Brazil, as part of the second competitive round of rights transfer. Additional production managed by the Brazilian National Agency for Petroleum, Natural Gas and Biofuels (ANP).

Under the terms of the production sharing contract:

  • Qatar Energy will own a 21% stake.

  • While the share of the Brazilian national company Petrobras (operator) will be 30%.

  • The share of Total Energy is 28%.

  • The share of Petronas is 21%.

Qatar Energy wins a contract to develop a large oil field in Brazil #Qatar_Energy⁣ #Qatar pic.twitter.com/TdARNFh26W

— QatarEnergy (@qatar_energy) December 17, 2021

Engineer Saad bin Sherida Al-Kaabi, Minister of State for Energy Affairs, President and CEO of Qatar Energy, expressed his happiness with winning the joint bid made by Qatar Energy with its partners for production rights in this large, world-class field.

"With this success, we have significantly expanded our presence in Brazil, which is a key country in Qatar Energy's asset portfolio, which continues to implement its growth strategy, which focuses on developing high-quality and efficient hydrocarbon resources to supply them to global markets," he said.

"We are also thrilled to be part of this important deal with our partners," he added.

A global consortium comprising Qatar Energy, France’s Total Energies and Malaysia’s Petronas wins the production-sharing contract in the Sepia oil field in Brazil in the second competitive round of transferring additional production rights managed by the Brazilian National Agency for Petroleum, Natural Gas and Biofuels .

#Qena pic.twitter.com/GCrIRfLIsD

— Qatar News Agency (@QatarNewsAgency) December 17, 2021

The "Sibia" field is located off the coast of Rio de Janeiro, in the Santos Basin, which is known for its abundance of production in waters with a depth of about two thousand meters.

Production from the field began last August through a floating production, storage and offloading unit with a capacity of 180,000 barrels of oil per day.

It is expected that another floating production, storage and offloading unit will be added to raise the field's total production capacity to more than 350 thousand barrels of oil per day.

It is also expected that the contractual procedures for this win will be completed in the first half of 2022, and thus Qatar Energy will be one of the most important companies in the field of exploration and production in Brazil, as it owns stakes in another producing field and in a large number of exploration areas.