Galp, Petrobras Return Caramba Oil Prospect
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)
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 12 Offshore Rigs
- Brazil Regulator Allows Petrobras To Source Libra Rig Hull From Abroad (Oct 04)
- Exxon's Big Bet on Brazil Oil Could Signal Major Pre-salt Role (Sep 29)
- Exxon Mobil Bets on Brazil, Buys 10 Oil Blocks in Auction (Sep 28)
Company: Galp Energia more info
- Galp Cuts Investment Plan, Sees Higher EBITDA Growth (Feb 21)
- Eni Board Authorizes Investment for First Phase of Coral Discovery (Nov 18)
- European Oil, Gas Companies Looking to Cut Costs Further (Oct 31)