Exploration and Production
At the end of 2018, Repsol has mineral rights to 11 offshore blocks in Brazil: 6 exploration blocks (1,667 Km2 net surface), and 5 production/development (250 Km2 net surface area). In 2018, Repsol was awarded 4 offshore exploration blocks in successive bidding rounds. Repsol will be operator in 3 of them.
Net production in 2018 was 16.4 Mbbl of liquids and 7.2 Bcf of natural gas, with a total net production equivalent 17.7 Mboe (48,391 boe/d). The estimated net proven reserves for liquids and natural gas at the end of the year were 108.1 Mboe.
New exploration blocks: The Brazilian National Agency for Petroleum (ANP) has announced the winners of the BR-15 Round. Repsol has been awarded 3 new exploration blocks, with a total interest of 40% in all of them in association with Chevron (40%) and Wintershall (20%). Two blocks are in the Campos basin (C-M-821 and 823) and will be operated by Repsol, and the third (S-M-764) is in the Santos basin and will be operated by Chevron.
Declaration of commercial viability submitted for the Entorno de Saphinoá area: Petrobras has submitted the Declaration of Commercial Viability to the ANP for the “Entorno de Saphinoá”. This area was obtained during the second bidding round for the Production Sharing Contract (PSC) in October 2017, and was awarded to the consortium made up of Petrobras (45% WI and operator), Shell (30%), Repsol Sinopec (25%) - the pre-salt company, Petroleo Brasileiro (PPSA) will administer the contract. The “Entorno de Sapinhoá” is comprised of three fields: "Noreste de Sapinhoá", "Noroeste de Sapinhoá" and "Sudeste de Sapinhoá” which is adjacent to the Sapinhoá block. The Sapinhoá block is currently in production and being exploited by the same consortium. The ANP states this Declaration of Commercial Viability as a requirement for the joint exploitation of both areas “unitization”.
of mineral rights
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Sale and distribution of lubricants through our subsidiary in the country.