Deals - Joint Ventures | Exploration & Appraisals
Alvopetro Partners with ENGIE in Reconcavo Basin, Brazil
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Following Brazil's 13th Bid Round, administered by the Agencia Nacional do Petróleo, Gás Natural e Biocombustíveis of Brazil, Alvopetro Energy Ltd. has announced that we were the successful bidder on 4 blocks in partnership with ENGIE (GDF SUEZ E&P Brasil Participações Limitada), all located in the Recôncavo Basin, onshore Brazil.
Alvopetro will operate all of the blocks and have a 65% participating interest, with ENGIE holding the 35% remaining participating interest. All of the blocks have an initial three year exploratory phase.
The Bid Round success further strengthens both Alvopetro's and ENGIE's exploration and production positions in Brazil and contributes to ENGIE's strategy to achieve a significant presence along the entire energy value chain in the country. Alvopetro and ENGIE…
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