KUALA LUMPUR (Oct 11): Petronas said today its subsidiary Petronas Petróleo Brasil Ltda (PPBL) won three Brazil offshore oil and gas (O&G) exploration blocks during a bid round on Thursday (Oct 10).

In a statement today, Petronas said PPBL won the CM 661, CM 715 and CM 541 blocks within the Campos Basin. Petronas said the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) had during the ANP round-16 concession's bid round, made the public announcement on PPBL winning the blocks.

"For blocks CM 661 and CM 715, PPBL as the operator holds 100% equity. For Block CM 541, Total, as the operator holds 40% equity, Qatar Petroleum (40%) and PPBL holds the remaining 20% equity," Petronas said.

Petronas president and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said in the statement that Petronas looks "forward to further strengthening and developing Petronas' ventures in Brazil, one of the world's most prolific basins".

"Following the execution of the sale and purchase agreement to acquire stakes in Tartaruga Verde and Module III of Espadarte fields in April 2019, which is currently subject to closing conditions, this round of successful bids further enhances Petronas' global growth strategy as the company diversifies and expands its oil business portfolio in the South American region," Wan Zulkiflee said.

According to Petronas' statement, besides upstream O&G operations, Petronas also has other ventures in Brazil including Petronas Lubrificantes Brasil SA, a subsidiary of Petronas Lubricants International.

Petronas said it undertakes its logistics business in Brazil through MISC Bhd.