Petrobras Confirms Sale of BC-10 Stake to ONGC, Shell

This Monday, December 30th, 2013, Petrobras finalized the sale of its 35% stake in the Parque das Conchas (BC-10) offshore project for US$ 1.636 billion.

In August 2013, Petrobras signed an agreement to sell its 35% stake in the block, subject to government approval and the preemptive rights of its partners. Shell and ONGC Videsh decided to buy out Petrobras, acquiring stakes of 23% (Shell) and 12% (ONGC Videsh).

After the approval of the Brazilian Petroleum Agency (ANP), granted on December 18th, the sale was finalized on December 30th, 2013.

In 2013, the contribution of BC-10 to Petrobras average oil production volume was 8,600 barrels of oil per day (bpd).

[mappress]
Press Release, December 31, 2013