replyThanks to its alliance with the Chinese state Sinopek in Brazil -Repsol Sinopec Brasil-, Norwegian Ekinor and Brazilian petrobras agreed to invest 9,000 million dollars (approximately 8,153 million euros) abuse gas and condensate ‘megaspace’ ‘BM-C-33’It is located in the ultra-deep waters of the Campos Basin in Brazil.
The partners in the project in Brazil, one of the largest in the South American country with resources representing more than one billion barrels of recoverable oil equivalent, thus made the final investment decision to develop the field. production expected to start in 2028as reported by companies.
Repsol Sinopec Brasil – ‘joint venture’ 60% owned by Repsol- have 35% stake in the blockLike Equinor, which is also its operator, the remaining 30% is held by Petrobras.
So this will be One of the biggest investment decisions in the ‘upstream’ business (Exploration and production) It was recently agreed by the group led by Josu Jon Imaz to invest $2,600 million (approximately 2,356 million euros) with Australian Santos to support the development of Pikka, the largest oil discovery in Alaska after last summer. in the United States in the last 30 years.
Thus, the contribution of Repsol, which has a 49% stake in the project, corresponded to an investment of approximately 1,300 million dollars (approximately 1,178 million euros). In the case of this bloc in Brazil, given the Spanish group’s participation in it, The investment will amount to approximately $1,890 million (about €1,712 million) over five years.
This investment decision regarding the ‘BM-C-33’, An important milestone for the Brazilian gas market, with an estimated daily gas flow capacity of 16 million cubic meters. This is equivalent to the consumption of the entire State of São Paulo and demonstrates Brazil’s potential to provide energy to meet growing demand and create value for society.
Additionally, it comes after Repsol and Sinopec reached an agreement less than two weeks ago to end the legal battle over their UK joint venture Repsol Sinopec Resources UK (RSRUK).
With this agreement; Repsol acquired 100% of RSRUK by purchasing its 49% stake in this company from Sinopec for approximately €1.903 million..
In the Repsol Sinopec Brasil joint venture, the group led by Josu Jon Imaz has a 60% stake, while the remaining 40% is held by China.
Founded in 2010 to jointly develop exploration and production projects in the South American country, Repsol SinopecSince natural gas accounts for two-thirds of Repsol Group’s reserves and production, it consolidates itself as a major gas player in Brazil, contributing to the opening of the gas market with its international experience.
Specifically, the ‘BM-C-33’ will be developed in an innovative concept using a FPSO (Floating Production Storage and Unloading Unit) in Brazil. process the gas produced and specify for salewithout the need for additional processing.
it is planned that The gas is exported through a 200-kilometer gas pipeline that will land in the city of Macaé.. Petroleum liquids will be discharged into tankers.