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Brazil regulator OKs transfer of Anadarko offshore stake to Petrobras

BY JEFF FICK

RIO DE JANEIRO -- ANP has approved the transfer of a stake in an offshore exploration block held by Anadarko to state run energy giant Petrobras.

ANP directors approved the transaction at a board meeting last week. Anadarko said that it had relinquished its interest in the block approximately six months ago. Petrobras didn' t immediately respond to requests for comment.

Anadarko ceded its 30% stake in the ES M 661 block to Petrobras, which operates the offshore exploration area with a 40% stake, according to minutes of the meeting. Closely held firm IBV holds the remaining 30%. Anadarko, however, retained its interest in the ES M 588 and ES M 663 blocks located that make up part of the broader BM ES 24 concession, the minutes showed.

In July, Petrobras said that it discovered a reservoir of heavy oil in the Grana Padano well drilled in the block. The well was drilled 64 km from Petrobras' s Golfinho field, located in the offshore Espirito Santo Basin.

Dow Jones Newswires

09/28/2012

 

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