BW Offshore Cleared to Buy Brazil Oilfield

Wednesday, March 6, 2019

Norway's BW Offshore has won approval from Brazil's antitrust watchdog Cade to buy the Maromba oilfield from Petrobras and Chevron, according to a statement in the official gazette on Wednesday.

Petrobras has a 70 percent stake in the field, while Chevron has a 30 percent stake.

"The transaction represents an opportunity for BW to enter and start its activities in the oil and natural gas exploration and production market in Brazil," Cade said in a statement, adding that the transaction "does not lead to competitive concerns."

Petrobras informed Cade that the sale is part of its divestment program, while Chevron said the sale is strategic, allowing it to focus on other projects.


(Reporting by Gabriel Stargardter Editing by Susan Thomas)

Categories: Industry News Activity South America Regulations

Related Stories

Comment: In Romania, the Sun Also Rises

Johan Sverdrup Producing Around 350,000 BPD

Helicopter Missing in the US Gulf

SBM Offshore Inks FPSO Sepetiba Contracts

Shelf Drilling Gets Offshore Nigeria Extension

Majors Press Mexico to Resume Oil Auctions

Wood Tallies Hywind Tampen Contract

Aker Solutions, Subsea 7 Win Ærfugl Subsea Scope

Subsea Tech's 'March of Miniaturization'

US Gulf: Infrastructure-led Exploration

Current News

Polarcus Wins 4D Job in Brazil

Comment: Equinor’s New E&P El Dorado

Petrofac Lines Up North Sea Engineering Work

Geoscience Packages Reveal APAC Prospectivity

Chevron Hits Go on Anchor

Aker Solutions, Subsea 7 Win Ærfugl Subsea Scope

Liberia Lines Up 2020 Offshore Licence Round

Wison Begins Arctic LNG 2 Project

EGS to Survey Ocean Wind OWF Site

ABS Publishes Fuel Cell Guidance

Magazine

Offshore Engineer (Sep/Oct 2019)

This issue of Offshore Engineer is dedicated to Big Data and Digitalization

Archive
Subscribe

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week