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Hydro partner in three new licences offshore Brazil

November 30, 2006, 00:00 CET

In the 8th Bid Round for offshore Brazil, Hydro was awarded three blocks in the Santos Basin.

Hydro was bidding together with Petrobras and Repsol. Each of these companies has one operator block: S-M 1105, 1109 and 1233.

Hydro is the operator of S-M 1233 with a 40 percent working interest. In the other two blocks the company has a 30 percent working interest.

Each of the blocks covers 720 square kilometers, located about 200 kilometers off Sao Paulo at water depths from 1,000 to 2,000 meters.

Hydro has a long-term interest in Brazilian offshore activities and recently opened a new office in Rio.

Hydro is already active in Brazil with a 50 percent interest in the Peregrino field, where the company is operator during the project development phase.