BW Offshore eyes Maromba field offshore Brazil

Source: BW Offshore

Oslo-listed FPSO operator BW Offshore is contemplating to enter into agreements to acquire 100% of the Maromba field offshore Brazil from the present owners Petrobras (70%) and Chevron (30%).

BW Offshore said on Monday that the closing of the acquisition is subject to board approvals and fulfillment or waiver of conditions precedents, including approval by The Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) to close the transaction and deem BW Offshore an approved operator in Brazil.

The Maromba field is located off the Brazilian coast in the Campos Basin in 160 meters of water depth.

The company added it will provide further information upon signing of the agreements.

Petrobras announced its plan to sell its stake in the Maromba field back in July 2017 and the binding phase regarding the transfer of Petrobras and Chevron stake in the Maromba Field started in October that same year.

For Petrobras, the potential transaction is an opportunity to develop and monetize a heavy oil discovery in shallow waters, close to the producing fields of Peregrino and Papa-Terra.

This would not be BW Offshore’s first venture into oil and gas exploration. Namely, BW Offshore’s subsidiary, BW Energy, is the operator of the Dussafu license located offshore Gabon. The company last August made an oil discovery in the Ruche North East Marin-1 well drilled in the Dussafu Marin PSC.

Offshore Energy Today Staff

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