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.

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