Brazil acreage widens South America scope

摘要

WINTERSHALL'S focus in South America has widened to include Brazil where it last year won seven offshore blocks, four of which it operates, writes Anamaria Deduleasa. Re-entering the country, the operator is currently acquiring seismic data aiming to better understand the basins before starting exploration, with first results expected in the middle of 2020. The German operator is also looking to expand in Argentina, where it is already active - it produces about 26 million barrels of oil equivalent per annum (71,000 barrels of oil equivalent per day) from the Vaca Muerta shale play - to the offshore sector. As part of this effort Wintershall has registered to bid in Argentina's first ever offshore licensing round, which will take place next month. Thilo Wieland, executive board member with Wintershall responsible for South America said: "In the last three years, we have invested around $600 million there, and we want to continue this trend. "But we are not sure if our investments will be in oil or gas, especially after Argentina adopted recently 'Resolution 54', which does not really favour gas production."