QatarEnergy and partners conclude agreements marking entry into Brazil’s Sépia Field – The Peninsula

QatarEnergy and partners conclude agreements marking entry into Brazil’s Sépia Field – The Peninsula

Doha: A QatarEnergy consortium has entered into a production sharing agreement with the Brazilian government related to surplus volume rights of the world class Sépia oil field in Brazil.

The Production Sharing Contract, and other key agreements, were signed in Brasilia, during a special ceremony hosted by the Brazilian Ministry of Mines and Energy. Pursuant to the signed agreements, QatarEnergy will hold a 21% interest along with its consortium partners Petrobras (30% and Operator), TotalEnergies (28%), and Petronas (21%).

This signing follows the award of the Sépia surplus volume rights to the consortium at the conclusion of the second transfer of rights surplus bidding round on December 17, 2021, held by Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP).

In remarks on this occasion, H E Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, President and CEO of QatarEnergy, said "We are delighted to reach this important milestone and close Sepia’s key definitive agreements. We look forward to working with our partners Petrobras, TotalEnergies and Petronas to progress the next phase of development. I would like to express my sincere thanks and gratitude to H E Bento Albuquerque, the Minister of Mines and Energy of Brazil, for his support and