On 30 January 2020, in a two-stage working interest change, the ANP granted ExxonMobil approval to transfer 35% working interest to partner Azibras and for Azibras to transfer 30% working interest to new operator OP Energia in the POT-M-475 contract, in the offshore Potiguar Basin.   The POT-M-475 block was operated by ExxonMobil with 35% working interest and Azibras held 65%. With the formal approval, OP Energia is operator with 30% working interest and Azibras now holds 70% non-operated working interest in the POT-M-475 block.  On 15 August 2018, the ANP granted ExxonMobil a 2nd contract extension for its ANP Round 11, POT-M-475 contract, in the offshore Potiguar Basin. The ANP granted a 24-month extension to the first period exploration expiry from 7 August 2019 to 7 August 2021 and the final expiry from 7 August 2021 to 7 August 2023. Exxon Mobil operates the POT-M-475 block with 35% working interest and Azibras holds 65% working interest after approval of its acquisition from OGX Petroleo e Gas in April 2016.   On 11 October 2017, the ANP granted operator Exxon Mobil a 485-day extension of the POT-M-475 block exploration period due to delays in the issuance of an environmental license for seismic acquisition. The original first period expiry date was extended from 17 September 2018 to 7 August 2019. The second exploration period was also extended from 17 September 2020 to 7 August 2021.
ExxonMobil transferred 35% WI in the POT-M-475 and 50% in the CE-M-603 block in the Potiguar and Ceara basins to OP Energia (Ouro Preto Oleo e Gas) and Azibras. Both blocks are undrilled. OP will now be the operator in both blocks with a 30% working interest in partnership with Azibras, which will have 70%.