CNOOC announces that its wholly-owned subsidiary CNOOC Petroleum Brasil Ltda has signed mining tax-based petroleum contracts with Brazil's National Petroleum Agency and partners in the Perotas Basin for four Brazilian offshore exploration blocks.

The contract signed involves SM-1813 in the Santos Basin and PM-1737/39/97 in the Perotas Basin, which were the winners of Brazil's fourth round of open block (mining tax system) bidding. There are a total of four blocks, all located in Brazilian waters, with a total area of ​​approximately 2,600 square kilometers and a water depth of 600 to 3,000 meters.

CNOOC Petroleum Brasil Ltda owns 100% of the operator's interest in Block SM-1813 and 20% of the non-operator's interest in Blocks PM-1737/39/97. Petrobras is the operator of Blocks PM-1737/39/97 and owns 50% of the interest, while Shell holds 30% of the non-operator's interest.

KeyFacts Energy: CNOOC Brazil country profile