Petrobras concludes sale transaction of its stake in BC-10

abarrelfullabarrelfull wrote on 07 Jan 2014 09:52
Tags: brazil ongc petrobras s-america shell upstream

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Petróleo Brasileiro S.A. – Petrobras concluded this Monday (December 30th, 2013) the sale of its 35% stake in the offshore project Parque das Conchas (BC-10) for US$ 1.636 billion.

In August 2013, Petrobras signed an agreement to sell its 35% stake in the block, subject to governmental approvals and the exercise of the preemptive rights of the partners. Shell and ONGC Videsh exercised their preemptive rights to acquire 23% and 12% stake, respectively.

After the approval of the Brazilian National Agency of Petroleum, Natural Gas and Biofuels, which occurred on December 18th, the sale to the partners was concluded in December 30th, 2013.

In 2013, the contribution of BC-10 for Petrobras average oil production volume was 8.6 thousand barrels of oil per day (bpd).

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