The Perth-headquartered oil and gas major today said the blocks were about 180km southeast of Sao Paulo in water depths of 150 to 1000m. They cover about 2060 square kilometres.
Woodside said its commitment in the first exploration term of four years covers its share of three-dimensional seismic acquisition and one exploration well.
“The agreement is consistent with Woodside’s strategy to have several exploration opportunities cycling through the business with significant potential upside, attractive fiscal terms and competitive entry cost,” the company said.
Woodside did not say how much it paid for the farm-in.
The deal is subject to approval by Brazilian authorities.
