BRAVA completed the acquisition of 23% of Parque das Conchas, known as Block BC-10, on December 30th. The transaction covers QatarEnergy Brasil’s entire stake in the block, which includes the Abalone, Ostra and Argonauta fields, in the Campos Basin.
Parque das Conchas is operated by Shell, which holds a 50% stake, and ONGC holds the remaining 27% stake. The concession contracts are valid until 2032, with the potential for extension. Between January and November/2024, the average production from the asset was approximately 27,000 barrels of oil equivalent per day, with 6,200 boe/day corresponding to the stake acquired by BRAVA.
The oil produced at Parque das Conchas shares similar characteristics to the company’s other offshore portfolio assets, potentially enabling logistical and commercial synergies.
