Petrobras is selling its stake in a handful of deepwater exploration blocks in the Gulf of Mexico for US $110m to an unnamed buyer, while also picking up additional equity in another GoM block close to a major Lower Tertiary discovery.
The Brazilian major said it had signed a Sale and Purchase Agreement (SPA) for the sale of its 20% stake in Keathley Canyon blocks 49, 50, 92, 93, 94 and 138. These blocks make up the asset known as Gila, which is operated by BP.
Petrobras said it will receive $110m for the transaction, as well as additional equity in another exploratory block the Brazilian company operates adjacent to BP’s large deepwater Tiber discovery in KC 102.
This transaction is part of Petrobras’ divestment program, the release continued, as outlined in the 2013-2017 Business & Management Plan. The deal is also subject to third party preferential rights and approval by the U.S. Bureau of Ocean Energy Management (BOEM).
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