Petrobras Sells Stake in BS-4 Block
Petrobras has sold 40 percent 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 $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 percent interest, and Barra Energia do Brasil Petróleo e Gás Ltda. will also uphold its 30 percent interest.
This is the first asset sale under Petrobras divestment program, which is part of the 2012-2016 Business and Management Plan.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Operates 35 Offshore Rigs
Manages 13 Offshore Rigs
- Petrobras CEO Says To Discuss Refining Partnership With CNPC CEO (Nov 15)
- Ex-SBM Executives Plead Guilty In US To Petrobras Bribe Charges (Nov 09)
- CEO: Brazil's Petrobras Could Bid On More Blocks In Pre-Salt Auction (Oct 24)
Company: OGX more info
- AziLat Acquires OGX's Stakes in 2 Blocks Offshore Brazil (Oct 19)
- Brazil's Oleo e Gas to Cut 40% of Workforce (Jan 22)
- Brazil Regulator to Mull Revoking Block Rights of Batista Oil Company (Jan 28)