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Oil and Gas Operations

oilIn recent years, Partex has departed from its traditional participation in oil and gas concessions and joint ventures in the Middle East, to become an operator in oil upstream activities. Partex was the operator for the initial phase of the Dunga field in Kazakhstan and is presently the operator of two fields in the Northeast of Brazil.

In what concerns exploration, Partex is undertaking activities in Angola, Algeria, Brazil and Portugal. In Brazil, the Group presently has interests in two offshore and two onshore blocks. Partex is associated with Petrobras and British Gas (BG) at one of the offshore blocks, the BMS-10 in the deepwater Santos basin. The Group also acquired an interest in the deep offshore Block 17/06 in the Angolan Congo basin in association with TOTAL, Sonangol, and other companies. More recently, Partex has entered into a joint venture with Sonatrach and TOTAL to develop the Ahnet gas field in Algeria. Partex also participates in an exploration concession in the Peniche basin in Portugal with Petrobras,Galp and Repsol and in the Algarve Basin with Repsol.

While being strongly committed to the successful development of those ventures, Partex is actively engaged in the process of identifying new investment opportunities in the oil and gas business.

It is our culture to preserve and further develop the historic partnerships in the Middle East where Partex will continue placing its human and technological resources in support of the continued development of the oil and gas industry.