Petronas Coming to Brazil
Malaysian national oil company Petroliam Nasional Bhd (Petronas) has acquired a 50% equity stake in Brazil's Tartaruga Verde field following a Sale and Purchase Agreement (SPA)with Brazilâs Petróleo Brasileiro SA (Petrobras).Petronas said in a press release that its subsidiary Petronas Petróleo Brasil Ltd (PPBL) acquired the stake in Tartaruga Verde field (BM-C-36 Concession) and its facilities, Module III of the Espadarte field, both located in deep waters of the Campos Basin, offshore Brazil.âThe completion of the transaction is subject to the closing conditions, including the approval from the Brazilian Administrative Council for Economic Defense and the Brazilian National Agency of PetroleumâŚ
Petrobras hands over Campos basin stake to PetroRio
Petrobras today signed with PetroRio S.A. (âPetroRioâ) the contracts for the sale of 20% of its stake in the concessions of Bijupirá and Salema fields, currently operated by Shell. The transaction amounts to US$ 25 million and is subject to adjustments that are common to this type of operation. These fields are located in the Campos Basin, between 480 and 850 meters depth. Daily production averages 22 thousand barrels of oil and 325 thousand m3 of associated gas. The oil extracted is light, between 28º to 31º API. As part of the Petrobrasâ Divestment Plan, this operation is related to the portfolio optimization in the Exploration and Production area, and is in line with the 2015-2019 Business and Management Plan.
Shell to Sell Interest in Brazilian Offshore Project
Shell has announced an agreement to sell a 23% interest in the Parque das Conchas (BC-10) project offshore Brazil to Qatar Petroleum International for approximately $1 billion, subject to closing . The transaction is subject to approval by the National Petroleum and Gas Agency (ANP, Brazilâs Oil and Gas regulator) and the Administrative Council for Economic Defense (CADE, Brazilâs anti-trust authority). Shell will continue to operate BC-10 with a 50% working interest and retains a significant upstream presence in Brazil.