BW Offshore May Buy Brazilian Oilfield

Monday, March 4, 2019

Norway's BW Offshore is considering whether to buy Brazil's Maromba oilfield from Petroleo Brasileiro (Petrobras) and Chevron, for an undisclosed price, the Oslo-listed company said on Monday.

A final deal is subject to board approvals and other conditions, including approval by Brazilian authorities, BW Offshore added.

Operator Petrobras said in 2017 it planned to sell its 70 percent stake in the field.

Maromba is located off the Brazilian coast in the Campos Basin in 160 meters of water depth, an area in which BW Offshore said it had extensive operating experience.

(Reporting by Terje Solsvik, editing by Louise Heavens)

Categories: Activity FPSO Production South America Floating Production Shallow Water

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