Following exploration activities between 2009 and 2015 across offshore blocks in the Espirito Santo basin, Perenco returned to Brazil in October 2019, acquiring production concessions in the Campos basin.
Perenco's activities in Brazil
Since then, Perenco has been operating the Pargo, Carapeba and Vermelho concessions with 100% stakes. These fields are located 70km off the coast of the state of Rio de Janeiro in water 100 meters deep.
The Pargo cluster currently produces 5,000 boepd from 6 production platforms. Discovered in 1975, the three assets offer a STOIIP (Stock Tank Of Initially In Place) of 1.5 billion bbls, 504 million of which have already been produced. All the crude oil is exported from the Garoupa platform to the onshore terminal at Cabiunas.