E&P Assets

Barra Energia established a position in two blocks, BMS-8 and BS4, located in deepwater Santos Basin, Southeast Brazil. These two blocks include a field under development, a world class discovery under appraisal and significant exploration prospects with low risk and high impact upsides. In July 2017 Barra Energia entered into an agreement to sell its entire 10% interest in Block BMS-8 to Equinor, which deal is expected to close during the second quarter of 2019.

  • Barra’s portfolio is centered in the highly strategic pre-salt cluster
  • Unmatched petroleum system components:
    • Rift phase rich source rock
    • Rift and Sag thick limestone reservoirs
    • Thick salt layer provides perfect seal
  • Local salt layer windows allow hydrocarbon upward migration into post salt turbidites reservoirs
  • High Pre-Salt success ratio



Carcara World Class Pre-Salt Discovery

  • 300m-400m continuous reservoir
  • 31o API oil, no contaminants
  • High GOR
  • No oil/water contact
  • > 900m oil column
  • DSTs established huge well productivity
  • Three wells and DST established reservoir continuity

Significant Low Risk, High Impact Pre-Salt Upsides

  • Guanxuma and Guanxuma NW Prospects: geologically similar to Carcará
  • Guanxuma well drilled in 2018, confirmed another oil discovery in pre-salt reservoirs.



Near-term production from heavy oil discoveries

  • Two post-salt, heavy oil discoveries, Atlanta and Oliva
  • Atlanta and Oliva FDPs (Field Development Plan) approved by ANP
  • Total oil in place in excess of 2,100 MMBoe, with Atlanta accounting for 80% of the volume

High impact resource potential from pre and post-salt prospects

  • New high resolution 3D seismic acquired has allowed a better assessment of the pre and post-salt prospects

Atlanta Field Development

  • Phase 1: initially 2 horizontal wells (ATL2 and ATL-3) onstream since May 2018, a third well to be completed and brought onstream during the second quarter of 2019
  • ATL2 and ATL-3 producing at a combined rate of ~12.3 kbod, flow rates impaired by failed ESPs, after interventions and third well is brought onstream total field production is expected to stabilize around 22k to 25k bod
  • Phase 2: up to a total of 12 production wells, depending on reservoir and flow assurance performance of Phase 1