Petrobras clears Australian farm-in hurdle

Australia’s Foreign Investment Review has waived through Petrobras’ farm-in to the WA-360-P offshore exploration permit.

Offshore staff

MELBOURNE, Australia -- Australia’s Foreign Investment Review has waived through Petrobras’ farm-in to the WA-360-P offshore exploration permit.

According to operator MEO Australia, this paves the way for the remaining regulatory approvals in relation to the transfer of permit equity.

MEO continues to work with Petrobras to prepare for drilling of the Artemis prospect later this year. A site survey is under way of the sea floor close to the intended well location, and negotiations continue for a drilling rig.

06/28/2010

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