The blocks, Ntsina Marin and Mbeli Marin, are located in the Costeira Basin covering an area of 6,683 square kilometers and at water depth of up to 2,400 meters, on the Western Coast of Africa.
Petrobras will conduct an evaluation work within the 2,000 square kilometers of 3D seismics in the initial phase and the remaining 50%interest is retained by Britain’s Ophir Energy.
The deal is yet to receive final approval from the Government of Gabon.
Petrobras competes with other established integrated energy firms like ExxonMobil, PetroChina and Royal Dutch Shell, reports zacks.com.
