Chinese company authorised to carry out seismic survey of Santos basin in Brazil

20 March 2012

BGP Brasil, the Brazilian subsidiary of Chinese group BGP Marine, has been authorised by the Brazilian Institute for the Environment and Renewable Natural Resources (Ibama) to carry out a 3D seismic sea survey of the Santos basin, according to Brazilian newspaper Estado de São Paulo.

The newspaper said that Chinese groups’ interest in oil exploration in Brazil was growing and the Sinochem group had recently announce the acquisition of a 10 percent stake in five offshore oil blocks operated by French company Perenco in the Espírito Santo basin.

The same company had previously acquired 40 percent the Peregrino field, owned by Norway’s Statoil, 30 percent of the Brazilian unit of Portuguese company Galp Energia and 40 percent of the Brazilian arm of Spanish company Repsol.

Chinese group Sinopec is Repsol’s partner as operator of the Pão de Açúcar field in the Campos basin, where a test recently showed a flow of 5,000 barrels per day of light oil and 28.5 million cubic feet of natural gas per day.

In August 2011, Repsol and Sinopec announced the discovery of traces of oil along the Brazilian coast, in the Santos basin, in block BM-S-44.

Chinese oil company Sinopec at the beginning of March announced that it had started prospecting for oil in the recently discovered Pão de Açúcar oilfield in Brazil, which it operates along with Spanish company Repsol. (macauhub)