BP IN PACT WITH PETRÓLEO BRASILEIRO S.A. OVER POTIGUAR BASIN

(The following is a reformatted version of a press release
issued by BP and received via electronic mail. The release was
confirmed by the sender.) 
July 15, 2013 
BP expands Brazilian upstream presence, farming-in to five
concessions in Potiguar basin 
BP announced today that it has completed a deal with Petróleo
Brasileiro S.A. (Petrobras) to farm-in to five deepwater
exploration and production concessions operated by Petrobras in
the Potiguar Basin located in the Brazilian Equatorial Margin.
Subject to regulatory approvals, BP Energy do Brasil Ltda. will
take a 30% interest in blocks POT-M-663, and POT-M-760 (contract
BM-POT-16), and a 40% interest in blocks POT-M-665, POT-M-853
and POT-M-855 (contract BM-POT-17). Together these blocks cover
a total area of 3,837 square kilometres. 
Guillermo Quintero, BP Brazil President said: “This is another
step in building our presence in Brazil. Since first gaining
interests in 10 blocks with our purchase of Devon Energy do
Brasil in 2011, we have now expanded our upstream portfolio to
interests in 27 blocks in 7 basins, which includes the largest
deep-water exploration portfolio held by an international oil
company in Brazil.” 
Following the farm-in and the signature of concession agreements
awarded in Brazil Round 11, BP will hold interests in
concessions in 27 blocks in Brazil, of which BP will operate
eight. Petrobras will also hold interests in 22 of the blocks:
12 operated by Petrobras, six by Total, and four by BP. 
Notes to editors: 
·       Contracts BM-POT-16 and BM-POT-17 were awarded in Brazil
Round 7 (2005). They are located between 40 and 110 kilometres
offshore from the coast of Rio Grande do Norte and Ceará states,
in water depths ranging from 50 metres to 2,100 metres. 
·       After regulatory approvals, BM-POT-16 will be explored
by a consortium formed by Petrobras (30% operator), BP (30%),
Petrogal Brasil S.A. (20%) and IBV (20%), while BM-POT-17 will
be explored by Petrobras (40% operator), BP (40%) and Petrogal
Brasil S.A. (20%). 
·       BP has been present in Brazil since 1957 and currently
operates four businesses in the country: exploration and
production (BP Energy do Brasil); biofuels (BP Biocombustíveis);
aviation fuel (Air BP); and lubricants (Castrol). 
·       BP Energy do Brasil currently has interests in 14
concessions in five Brazilian basins, not including the eight
blocks awarded in Brazil Round 11 (concession agreements to be
signed in August) or the farm-in announced today. 
·       BP owns and operates three producing ethanol mills in
Brazil, with a total crush capacity of 7.5 million tonnes per
annum. 
·       Air BP operates in 18 airports across the country,
providing aviation fuel to the commercial, military and general
aviation. 
·       Castrol provides high quality lubricants to the
automotive, industrial marine and energy sectors. 
·       Once the Potiguar farm-in is approved and the Brazil
Round 11 concession contracts are signed, BP Group companies
will be present in fourteen Brazilian states (Amapá, Bahia,
Ceará, Espírito Santo, Goiás, Maranhão, Mato Grosso, Minas
Gerais, Paraná, Pernambuco, Piauí, Rio de Janeiro Rio Grande do
Norte and São Paulo) and the Federal District. 
Further enquiries: 
· BP Press Office, London +44 (0)207 496 4076, bppress@bp.com 
· BP Energy do Brasil Ltda, Carolina Lang, Maquina de Noticias
+55-21-3478-3105. 
David Nicholas
Head of Group Press Office, BP.
Tel: +44 (0)20 7496 4708
Email: nicholdh@bp.com 
(bjh) NY 
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