Brazilian independent Queiroz Galvao E&P (QGEP) has relinquished exploration rights for two concessions in the new frontier Pernambuco-Paraiba basin in the eastern margin.
QGEP snapped up blocks PEPB-M-894 and PEPB-M-896 in May 2013 in Brazil’s 11th licensing round in partnership with local player Petra Energia.
The pair committed to carry out a 3D seismic survey on the two blocks, which was expected to take place in 2017, but difficulties in securing an environmental permit dissuaded the companies.
