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

Prolonging Wellhead Fatigue Life

ExxonMobil Planning Exit from UK North Sea

Halliburton Wins Drilling Work Offshore Senegal

Island Wellserver Approved for Equinor LWI

Suriname Seeking Funds for Offshore Exploration

What Became of the Toisa OCV Fleet?

New Money, Finds & Field Starts

What About Well Intervention?

UUV Market to Reach $7.64bln

There’s Something Happening off Newfoundland

Current News

FMS Wins BP Mooring Gig in the North Sea

Topaz Revenue Climbs

TechnipFMC’s iEPCI

Wild Well Control Adds 10K Capping Stack

ADNOC Dishes $3.6 Billion in Contracts

Zohr Gas Field Output Rises to 2.7 bcfd

Rever Concludes North Sea Campaigns

Chevron Invests in Well Conveyor

Forum Sells Its Stake in Ashtead Technology

US Gulf Lease Sale Pulls in $159.4 Million

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