HRT, TNK-Brasil, and Petrobras signed a letter of intent this week for the joint development of new natural gas discoveries in the Solimoes Basin of Brazil’s Amazon region, HRT said.
The agreement considers plans about technical, economic, environmental, financial, legal, and regulatory feasibility, and tax aspects for monetization of gas blocks in the contiguous Jurua field.
HRT has made five gas discoveries at Jurua, and holds a 55% interest in 21 exploration blocks in the basin. TNK-Brasil holds the remaining 45% and plans to submit a Solimoes development plan by the end of this year, Dow Jones Newswires reported on Monday.
State-owned Petrobras operates the Amazon’s Urucu field, which produces natural gas in same region as HRT’s new discoveries.