You are here

Brazilian firm to start development of Santos Basin oil field

15th January 2013

QGEP gets green light from ANP to develop the Atlanta post-salt oil field, located in the Santos Basin

Brazilian firm to start development of Atlanta oil field
The Atlanta Field is a post-salt oil field which is positioned 185 km off the coast of Brazil in the Santos Basin

Brazilian oil and gas firm Queiroz Galvão Exploração e Produção (QGEP) has been granted approval by Brazil’s top petroleum association (ANP) to start development of the Atlanta field, it emerged on Tuesday.
Located in Block BS-4, the Atlanta Field is a post-salt oil field which is positioned 185 km off the coast of Brazil in the Santos Basin.

QGEP is the operator of the block and owns a 30 per cent participating interest. The other parties in in the consortium are OGX Petróleo e Gás Participações S.A, which holds a 40 per cent stake and Barra Energia do Brasil Petróleo e Gás Ltda, with 30 per cent.

The Santos Basin, located in the southern region of the Brazilian coast, has an area of approximately 352,260 square km. It is currently considered to be Brazil’s most promising exploration and production area, thanks to recent discoveries in the pre-salt layer which could lead the region to rank among the world’s ten largest oil reserves.