- Royal Dutch Shell (RDS.A, RDS.B) and India's ONGC close their purchase of a 35% stake from Petrobras (PBR) in the Parque das Conchas field in Brazil's Campos basin.
- The deal precludes Petrobras' intended sale of its stake to China's Sinochem for $1.54B; operator Shell will own a 73% interest, up from 50%, and ONGC will have 27%, up from 15% in the heavy-oil development in the BC-10 block
- The deal is the latest in a series of planned sales as part of PBR's $9.9B divestment program announced earlier in 2013.
- Parque das Conchas is producing ~50K boe/day following the start-up of a second phase in October.
Shell wraps up deal for Parque das Conchas stake from Petrobras
Dec 30 2013, 13:01 ET