QGEP Acquires Stake in BM-S-8 in the Santos Basin
By Qgep Participacoes S.a., PRNEMonday, July 4, 2011
RIO DE JANEIRO, July 5, 2011 -
QGEP Participacoes S.A. (BMF&Bovespa: QGEP3), Brazil’s
largest private sector Exploration and Production (E&P) company
on annualized daily production of barrels of oil equivalent (BOE),
today announced that Queiroz Galvao Exploracao e Producao S.A.
(”QGEP”), a wholly owned subsidiary, has entered into a purchase
and sale agreement for the acquisition of 10% of Shell Brasil
Petroleo Ltda’s participating interest in Block BM-S-8 located
offshore in the Santos Basin. Shell currently owns a 20% working
interest in the block, which is operated by Petrobras, and owned by
a consortium comprised of Petrobras, Petrogal and Shell.
The transfer of Shell’s participating interest to QGEP is
subject to approval by the ANP.
“This farm-in agreement demonstrates our strategy of building
value by investing in high quality assets that diversify and
strengthen our portfolio,” said Jose Augusto Fernandes Filho,
QGEP’s Chief Executive Officer.
The Company will host conference calls to provide further
information on the farm-in agreement. The remarks will be followed
by a question-and-answer period.
Please call the following number approximately 10 minutes prior
to the scheduled time of the call:
Conference call in Portuguese:
Tuesday, July 5, 2011 - 11 a.m. Brasilia Time/10
a.m. New York Time
Phone (Brazil): +55-11-4688-6361
Code: Queiroz Galvao
Webcast:
Conference call in English:
Tuesday, July 5, 2011 - 1 p.m. Brasilia Time/12
p.m. New York Time
Phone (United States): +1-786-924-6977
Phone (Brazil): +55-11-4688-6361
Code: Queiroz Galvao
Webcast:
For further information, please contact QGEPP Investor Relations
Department:
Paula Vasconcelos da Costa
Phone: +55-21-3509-5959
E-mail: ri@qgep.com.br
About QGEP Participacoes S.A.
QGEP Participacoes S.A. is Brazil’s largest private sector
Exploration and Production (E&P) company based on annualized
daily production of barrels of oil equivalent (BOE) according to
data from the ANP, and the only private Brazilian company in this
sector qualified by the ANP in the last two auctions in 2007 and
2008 to act as “Operator A” in Deep and Ultra-Deep Waters. The
Company has a diversified portfolio of high quality and high
potential exploration and production assets. Furthermore, it owns
45% of the concession for the Manati Field located in the Camamu
Basin, which is the largest non-associated natural gas field under
production in Brazil according to data by the ANP as of 2010. This
field has been in operation since 2007, and has production capacity
of approximately 50,300 boe per day. For more information, please
go to
.
Tags: Brazil, July 5, Qgep Participacoes S.a., Rio de janeiro
