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Sale of interest in BS-4 block
Published on 26/11/2012 21:05:12
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Petrobras has sold 40% of its interest in the BS-4’s Concession, located in the Santos Basin, which includes the 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 US$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 the operator of the concession, with a 30% interest, and Barra Energia do Brasil Petróleo e Gás Ltda. will also retain its 30% interest.
This is the first asset sale under Petrobras' divestment program, which is part of its 2012-2016 Business and Management Plan.
