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Bharat Vasandani Madhavan N. & Hari... Urvish Dave

Market & Company Research Store > Details

Year: 2012

Contents: 6 pages

Country: Brazil

Sector: Exploration and Production (Energy)
Petrobras to Acquire 30% Stake in ES-M-661 Offshore Exploration Block in Espirito Santo Basin from Anadarko - Acquisition to Help Petrobras to Double its Production by 2020 Africa – Deal Analysis from GlobalData

Summary

Petroleo Brasileiro SA (Petrobras) received an approval from Brazil's National Petroleum Agency (ANP) to acquire a 30% stake in the ES-M-661 offshore exploration block located in the Espirito Santo basin, southeastern Brazil, from Anadarko Petroleum Corporation (APC). The acquisition will enable Petrobras to further expand its offshore oil and gas asset portfolio in the Espirito Santo Basin, while the divestment will enable APC to focus on its assets in the Campos Basin.

Scope

- Rationale behind Petrobras acquiring 30% stake in the ES-M-661 offshore exploration block in Espirito Santo basin.
- Rationale behind APC divesting its stake in the ES-M-661 block.
- Geography Covered- Brazil

Reasons to buy

- To know about Petrobras' plan of doubling its production of oil and NGLs by 2020.
- Develop a sound understanding of how discovery of heavy oil in Block ES-M-661 in offshore Brazil will help Petrobras to reach its target of doubling production by 2020.
- Develop a sound understanding about the reason of APC to divest its stake in Brazil.
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