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Shell confirms majority stake in Parque das Conchas

Offshore staff

THE HAGUE, the Netherlands -- Shell has completed acquisition for $1 billion of an additional 23% interest in the Parque das Conchas (BC-10) project offshore Brazil.

Following regulatory approvals the company now has a 73% operating interest. Partner ONGC has also lifted its stake to 27%, following Petrobras’ decision to exit the project.

BC-10 came onstream in 2009 and currently produces around 50,000 boe/d. Phase 2 of the project, the tie-in of the Argonauta O-North field, came online Oct. 1, and at peak should add 35,000 boe/d.

The partners took a Final Investment Decision for Phase 3 in July. At peak the facilities should deliver a further 28,000 boe/d.   



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