Perenco is currently the operator of four deep water Exploration Concessions in the prolific Espirito Santo basin offshore Brazil. These assets are held in partnership with OGX and Sinochem.
Since commencing activities in Brazil in 2008, when Perenco originally signed five exploration concessions following the ANP's 9th round of licensing, Perenco has invested in a comprehensive exploration work programme, which to date has seen the acquisition of three seismic surveys and the drilling of two deepwater exploration wells in 2011/12. This activity has resulted in a high quality, modern 3D seismic dataset of 3250 km², and invaluable geological information from two exploration wells drilled in a previously unexplored part of the basin.
Integration of this data into our exploration studies has shed new light on the hydrocarbon exploration potential in the southern, deeper water concessions BM-ES-39, 40 and 41, upon which a further two well drilling campaign is planned for 2013 on the Cajú and Dendê prospects. These prospects are also in close proximity to a string of recent discoveries announced in the region, such as Indra, Pé de Moleque, Brigadeiro and Quindim. Also analogous are the producing Golfinho fields operated by Petrobras.
The 2013 exploration drilling campaign is anticipated to take six months to complete and will be conducted using the Ocean Star semi-submersible rig operated by Diamond Offshore. This is the same unit which was used by Perenco during our previous Brazilian drilling campaign, which was completed ahead of time and under budget. Using this rig will allow us to gain maximum benefit from the operational learning curve and experience of the previous campaign.
In addition to its operated ventures, Perenco remains active in its pursuit of new opportunities, including preparation for the upcoming licensing rounds of the ANP. In this licensing round the Company will be looking to leverage its vast experience in the West African Atlantic Margin, as well as the comprehensive studies carried out in Brazilian basins by our subsurface teams located in London and in Rio de Janeiro.