1qUNP30

34 Global activities
35
Brazil
Maersk Oil entered Brazil in 2001. Since then, Maersk Oil has expanded
its footprint in the offshore Campos Basin through licensing rounds and
acquisitions. Up to the fourth quarter of 2013, Maersk Oil has drilled four wells
as operator and participated as partner in 16 other wells. The acquisition of
SK do Brasil, an affiliate of SK Energy, provided Maersk Oil with access to
exploration acreage, development opportunities and production.
EXPLORATION
The Brazilian assets of SK Energy, acquired in 2010, comprise
a 40% interest in the Polvo field (BM-C-8), 20% in the Wahoo
discovery (BM-C-30) and 27% in the Itaipu discovery (BM-C-
32). The SK deal gave Maersk Oil access to pre-salt resources
in the Campos Basin, located just south of the prolific
‘Whale Park’ complex of oil fields. Since the acquisition, two
appraisal wells were drilled in Itaipu and also two appraisal
wells at Wahoo.
DEVELOPMENT
Maersk Oil currently has no fields under development in its
Brazil portfolio.
MAERSK OIL ADDED VALUE
The ‘Whale Park’ complex of oil fields, located just north of Itaipu
and Wahoo, has shown the quality of the Brazilian presalt in this
area. Any presalt acreage in Brazil will, going forward, be licenced
under new and more onerous production-sharing arrangements.
Therefore, through Itaipu and Wahoo, Maersk Oil has secured
access to Brazilian presalt resource under legacy terms, with a
significant potential for value creation.
There is also an opportunity for Maersk Oil to strengthen its
deepwater experience and to transfer knowledge across the globe
to Angola and the U.S. Gulf of Mexico, other regions where Maersk
Oil has a deepwater presence.
Production of
11,600
bopd
Maersk Oil gained access to the prolific
presalt acreage in the Campos Basin
though its acquisition of SK Energy’s
Brazilian assets.
Overview*
Date of entry 2001
Acreage total 1,339 km 2
Acreage operated 0
Licences total 3
Brazil
Rio de Janeiro
&-
Licences operated 0
São Paulo
&-
Production, 2013 total
11,600 bopd
Production, 2013 operated -
Production, 2013 equity
Production, 2013 entitlement
5,000 bopd
4,500 bopd
South
Atlantic
Sea
Fields total 1
Fields operated 0
Development projects 0
Exploration and appraisal wells, 2013 total 0
Exploration and appraisal wells, 2013 operated 0
* See notes on page 81