Mærsk Oil takes $2.4-billion bite out of Brazil

Mærsk Olie og Gas A/S Oil has agreed to acquire SK do Brasil Ltda for $2.4 billion.

Offshore staff

COPENHAGEN, Denmark – Mærsk Olie og Gas A/S Oil has agreed to acquire SK do Brasil Ltda for $2.4 billion.

The acquisition comprises three blocks in the offshore Brazil pre-salt play – BM-C-008 which includes the Polvo field (40% share, Devon operated), BM-C-030 which includes the Wahoo discovery (20% share, Anadarko operated) and BM-C-032 which includes the Itaipu discovery (27% share, Devon operated). BP has bought Devon’s Brazilian activities and will upon regulatory approval become operator of these.

“The acquisition is consistent with our strategy as it will transform Brazil into a core producing country for Mærsk rsk Oil,” said Jakob Thomasen, Mærsk Oil CEO.

12/24/2010

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