Niko Brasil Exploracao e Producao is looking of partner(s) in its two deepwater offshore blocks, ranging in water depth from 500 to 2500m. These two blocks are within the Pernambuco-Paraiba Basin, a relatively unexplored basin. Niko is approved as a deepwater operator, Category A, holding a 30% interest. Petra Energia is the other partner on both blocks holding a 70% interest. The Pernambuco-Paraiba basin is the extension of the newly explored Sergipe-Alagoas Basin where Petrobras made numerous discoveries in the last few years. The basin is characterized by a rift-type structural style. The potential horizons are the Upper Cretaceous base of slope fans (turbidites – Calumbi Fm) and the Pre-salt Albian Horizon (Cabo/Suape Fm). Given its tectono-stratigraphic similarities, producing analogies are present on both continental margins, Brasil – West Africa. Analogies are Moita and Pagandu Fields within the Sergipe-Alagoas basin for the Brasilian side, and the Jubilee and Mercury Fields for the African side.