Maersk takes stake in Campos basin permit

Maersk Oil has reached an agreement with Devon Energy to farm into 20% of license BM-C-34 in the Campos basin offshore Brazil subject to regulatory approvals.

Offshore staff


COPENHAGEN-- Maersk Oil has reached an agreement with Devon Energy to farm into 20% of license BM-C-34 in the Campos basin offshore Brazil subject to regulatory approvals. Activities planned on the license include drilling of up to four exploration wells.

BM-C-34 is 150 km (93 mi) offshore Brazil, in water depths of 2,300–2,700 m (7,546-8,858 ft).

Devon recently transferred its remaining 30% interest and operatorship of the license to BP under a package comprising all of Devon’s Brazil assets. Petrobras remains as partner with a 50 % stake.

“This farm-in fits very well with our ambition to increase our exploration activities offshore Brazil and offers an opportunity to enter the prolific deepwater plays in the Campos Basin,” says Lars Nydahl Jørgensen, head of Exploration in Maersk Oil.

The company has been involved in exploration off Brazil since 2001, and currently has interests in five other licenses:
-35% operated interest in BM-S-29 in the Santos Basin, 350 km (217 mi) southwest of Rio de Janeiro, the remainder held by OGX
-50% operated interest in BM-C-37 and BM-C-38 in the South Campos Basin, with OGX as 50% equity partner
-30% non-operated interest in BM-S-66 and BM-S-67 in the South Santos Basin, operated by Petrobras (50%).

4/8/2010

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