PETRONAS buys into shallow water offshore Brazil

Offshore staff

KUALA LUMPUR, Malaysia – PETRONAS Brasil E&P Ltda. has agreed to acquire 40% of OGX Petroleo e Gas S.A.’s interest in blocks BM-C-39 and BM-C-40 offshore Brazil in the Campos basin.

For a consideration of $850 million, PETRONAS gains interest in the shallow-water Tubarao Martelo field 95 km (59 mi) offshore Rio de Janeiro state.

The agreement is subject to regulatory approvals.

5/10/2013