CNPC in Brazil

CNPC entered into Brazil’s deepwater oil and gas market in 2013 by winning the bid for Libra project. Currently, CNPC operates two ultra-deep sea JV projects, i.e. Libra and Peroba, as well as the Buzios Field and the Aram risk exploration block, with business in the country covering deep-sea oil exploration, production and marketing, and marine engineering services.

CNPC stays committed to protecting the marine ecological environment in an all-round way when pursues high-efficiency oil and gas development in Brazil. Attaching great importance to sharing the fruits of development with Brazil, we provide job opportunities for local residents, promote diversification in employment, and strive for common growth of employees and the enterprise.

Oil and Gas Operations

Libra Project

The Libra project is located in the core area of the pre-salt Santos Basin, 164 kilometers off the coast of Rio de Janeiro, Brazil, covering approximately 1,548 square kilometers at water depths of 2,000-2,200m. In October 2013, a consortium comprised of CNPC, Petrobras (as the operator), Shell, Total and CNOOC won the bid for the ultra-deepwater pre-salt Libra block. In December 2013, the project was officially put into operation after the production sharing contract was signed between CNPC and its partners. In November 2017, the Libra block achieved its first oil output.

Peroba Project

The Peroba block covers an area of 1,073 square kilometers with water depths ranging from 2,200 to 2,500m. In October 2017, a consortium comprised of CNPC, Petrobras (as the operator), and BP won the bid for the block. In January 2018, the production sharing contract was signed officially. In February 2019, the first exploration well in the block, Well Peroba-1, completed drilling.