QGEP operates in offshore oil and gas exploration and production in Brazil. It is qualified to operate in every physical environment, from Blocks located onshore to those in ultra-deep water and is classified by the ANP as an “A Operator.” In 2013, the Company achieved daily production of 17,000 barrels of oil equivalent (BOE), placing it among the largest privately-controlled independent producers in Brazil. GRI G4-6
QGEP began operations in 2010 and has achieved solid and sustainable growth in its business. In 2013, it actively took part in the 11th ANP Bidding Round, wherein it acquired a share of 8 Exploratory Blocks, with operatorship in 5 of these. At the end of the year, the portfolio totaled 16 concessions in nine of the main sedimentary basins on the Brazilian coast. The Bidding Round also initiated five new strategic partnerships, Profile including two major global names and three independent, further reinforcing the partnership with Petrobras.GRI G4-13
The Company’s main producing asset is the Manati Field, in the Camamu Basin, located on Bahia’s southern coast. Manati is one of the largest natural gas producing fields in Brazil, and currently represents 100% of Company revenue. With a 45% share, QGEP is the majority partner in the consortium operating the field. Total average daily production for the year was approximately 6 million m³, which represents approximately one-third of the gas produced in the Northeast of Brazil.
QGEP has a long-term contract with Petrobras for the purchase of 100% of the gas produced in the Manati Field (condensate, a byproduct of natural gas, is sold to Dax Oil Refino S.A.).
Cash generated from the Manati Field has helped the Company to reach its goal of expanding its portfolio and making investments to consolidate its place as one of the largest independent offshore producers in Brazil. GRI G4-8
In addition to seeking operational excellence and profitability in its activities, QGEP is also committed to operational safety and to local communities in terms of human rights and the preservation of natural resources. For this reason, the management of environmental impacts, of social and environment projects, and of relationship channels with the various stakeholders is carried out in an integrated and systematic manner, in order to assure that the Company can achieve positive economic results and generate value for all of its stakeholders.
GRI G4-9
| MAIN INDICATORS (IN BRL MILLIONS, UNLESS OTHERWISE INDICATED) | 2013 | 2012 | 2011 |
|---|---|---|---|
| Gross operating revenue | 612.80 | 586.10 | 372.00 |
| Net operating revenue | 486.08 | 462.30 | 289.00 |
| Operational profit | 125.63 | 40.00 | 36.90 |
| Earnings per Share | 0.74 | 0.31 | 0.36 |
| Shareholder equity | 2,409.06 | 2,227.80 | 2,175.80 |
| Investments in environmental protection | 17.00 | 1.60 | 9.50 |
| Number of employees (un.) | 110 | 72 | 60 |
| Volume of total 2P certified reserves (millions of barrels of oil equivalent) | 45.2 | 51.5 | 58.9 |
| Gas production (millions of m3)* | 982.3 | 1,010.6 | 675.1 |
