Imetame in late June 2018 completed a farm-in for 50% of the Rio Ipiranga Production Concession from local operator IPI. It is believed the company will also be the new operator. The block will now become the company's first producing asset in the Espirito Santo Basin. The acquired interest was complete after approval by the ANP. No price was disclosed for the deal. Imetame also disclosed plans to drill a well on the block as well as reentering a previous well on the block for workover. The goal is to increase production from the around 10 bo/d to 150 bo/d. The block includes one producing one well field from 2001 and another productive oil well plugged and abandoned in 1973 as well as two wells with shows. It is close to the Imetame blocks ES-T-477 and ES-T-487 acquired in ANP Round 14 in 2017. The company hopes to create an operational synergy. Imetame now has five exploration blocks in the Espirito Santo Basin acquired in ANP Round 14. 
Imetame in late June 2018 completed a farm-in for 50% of the Rio Ipiranga Production Concession from local operator IPI