Petrobras confirmed in Artemis venture

Petrobras has won approval from the authorities in Western Australia to take a 50% interest in exploration permit WA-360-P from MEO.

Offshore staff

MELBOURNE, Australia -- Petrobras has won approval from the authorities in Western Australia to take a 50% interest in exploration permit WA-360-P from MEO.

All conditions related to the transaction have been fulfilled, MEO says. The company will now invoice Petrobras for seismic-related back costs (up to $7.5 million).

MEO adds that Shell is due to relinquish the Songa Venus in early November to drill the Artemis-1 well on WA-360-P.

09/15/2010

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