Galp, Petrobras Return Caramba Oil Prospect

Reuters

LISBON, May 28 (Reuters) – Galp and Petrobras have returned the Caramba oil block to Brazil's ANP regulator after finding that it was not commercially viable, Galp said on Thursday.

"Indeed we have," a Galp spokesman said after being asked if the block had been returned.

Galp and Petrobras won the deepwater prospect, known as BM-S-21, in 2001. Petrobras had a 80 percent stake in the concession and Galp 20 percent.

(Reporting by Shrikesh Laxmidas, writing by Axel Bugge)

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
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.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Load Planner/ Dispatcher Frac Sand
Expertise: Dispatcher|Project Management
Location: Mansfield, TX
 
United States Houston: Marketing Specialist
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
 
Intelligence & Risk Assessment Analyst
Expertise: Legal|Risk Management
Location: San Ramon, CA
 
search for more jobs

Brent Crude Oil : $48.6/BBL 1.12%
Light Crude Oil : $46.34/BBL 1.24%
Natural Gas : $2.9/MMBtu 2.35%
Updated in last 24 hours