KUALA LUMPUR: Petronaliam Nasional Bhd, subsidiary Petronas Petróleo Brasil Ltda (PPBL), has won three exploration blocks during Brazil’s exploration blocks bid round in Rio de Janeiro yesterday.
PPBL won blocks CM 661, CM 715 and CM 541, all located in the Campos Basin, offshore Brazil.
PPBL owns 100 per cent of Blocks CM 661 and CM 715.
For Block CM 541, Total of France holds a 40 per cent equity, Qatar Petroleum (40 per cent) and PPBL holds the remaining 20 per cent.
Petronas president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said it looked forward to further strengthening and developing its ventures in Brazil, one of the world’s most prolific basins.
“Following the execution of the sale and purchase agreement to acquire stakes in Tartaruga Verde and Module III of Espadarte fields in April 2019, which is currently subject to closing conditions, this round of successful bids further enhances Petronas’ global growth strategy as the company diversifies and expands its oil business portfolio in the South American region,” he added.
Aside from upstream, Petronas also has other ventures in Brazil including Petronas Lubrificantes Brasil S.A, a subsidiary of Petronas Lubricants International, and logistics business through MISC Bhd.