Global Leader in International Oil and Gas Industry News

posted in:

Petrobras announces sale of interest in BS-4 block

Tuesday, Nov 27, 2012

Petrobras has sold 40% of its interest in the BS-4’s Concession, located in the Santos Basin, which includes Atlanta and Oliva fields, to OGX Petróleo e Gás Participações S.A.

The two companies have executed a Farmout Agreement and Petrobras will receive a total of US$ 270 million for the operation.

The deal is subject to approval by the National Petroleum, Natural Gas and Biofuels Agency (ANP).

Queiroz Galvão Exploração e Produção S.A. will remain as the operator for the concession, with a 30% interest, and Barra Energia do Brasil Petróleo e Gás Ltda. will also uphold its 30% interest.

This is the first asset sale under Petrobras divestment program, which is part of the 2012-2016 Business and Management Plan.

Source: Petrobras

To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today

posted in:

Other Oil & Gas News

AVEVA provides Integrated Engineering & Design solutions to TOTAL E&P Nigeria Limited 18-04-2014
Oando Energy Resources increases deposit for acquisition of Nigerian Upstream Oil and Gas Business of ConocoPhillips 18-04-2014
Linde will be exclusive hydrogen supplier for the Shell Eco-marathon in Houston 18-04-2014
Technip wins Umbilical contract for Kaombo project in Angola 18-04-2014
Forest Oil announces first quarter 2014 earnings release date and teleconference 18-04-2014
Saipem announces awarded FPSO contracts in Angola worth more than $4 billion 18-04-2014
Endeavour announces settlement of SM Energy litigation 18-04-2014
Drilling and production update 18-04-2014
Shell announces Malaysia deep-water gas discovery 18-04-2014
Meeting between the Ukrainian Minister of Energy, Yuri Prodan, and Eni's CEO Paolo Scaroni 18-04-2014