Petrobras to sell off shares in BP-operated Gulf of Mexico Keathley Canyon blocks

5/1/2013

Petrobras to sell off shares in BP-operated Gulf of Mexico Keathley Canyon blocks

RIO DE JANIERO -- Petrobras has announced that it has signed a Sale and Purchase Agreement (SPA) for the sale of the 20% stake the company holds in exploratory blocks KC 49, 50, 92, 93, 94 and 138 in the U.S. Gulf of Mexico. These blocks make up the asset known as Gila, and the operator is BP.

Petrobras will receive $110 million for the transaction and additional equity in an exploratory block adjacent the Tiber field, where Petrobras is already operating and has discovered reserves.

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