BW Offshore Cleared to Buy Brazil Oilfield

March 6, 2019

© brasilplural / Adobe Stock
© brasilplural / Adobe Stock

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)



Current News

Norway: PGNiG Gets Permit to Drill Copernicus Offshore Well

Norway: PGNiG Gets Permit to Drill Copernicus Offshore Well

Saudi Aramco Profit Soars

Saudi Aramco Profit Soars

Gazprom Boosts Gas Flows to Hungary via Turkstream Pipeline, Official says

Gazprom Boosts Gas Flows to Hungary via Turkstream Pipeline, Official says

Beach Energy Results Disappoint. Hunt on for M&A in Australia, NZ

Beach Energy Results Disappoint. Hunt on for M&A in Australia, NZ

Subscribe for OE Digital E‑News

Offshore Engineer Magazine