On 6 December 2018, the ANP approved of Bertek divesting its 100% working interest in the ES-T-345 and ES-T-476 blocks in the onshore Espirito Santo Basin to newcomer BGM Petroleo e Gas Ltda.Â  Bertek was granted the official awards for the blocks in January 2018 through the ANP Round 14.  On 29 January 2018, Bertek with 100% working interest was granted official awards by the ANP for the ES-T-345 and ES-T-476 blocks in the onshore Espirito Santo Basin from the ANP Round 14.Â  The company paid a total signature bonus of USD 153,312.30 for the two blocks and has work commitments of USD 551,735.02.Â  The blocks cover a total area of 46.14 sq km. The contract has one five year exploration period and 7.5% royalties.Â  The rentals for the blocks are USD 14.15/sq km/year.Â  The local content is stipulated as 50% in the five year exploration phase and in the development production phase is 50%.
Brazil, ES-T-476