Petrobras says CNOOC looking to buy additional interest in Buzios field upstreamonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from upstreamonline.com Daily Mail and Mail on Sunday newspapers.
Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Since the start of the evaluation activities at the Libra Block, the southeast area that is distinct from the rest was identified as an area with low potential, Petrobras said in a statement. The conclusion of data processing confirmed this expectation.
The Libra production-sharing area was the first subsalt acreage sold under Brazil s production-sharing regime. The first subsalt bid round was held in 2013, with Petrobras partnering with Shell, Total, CNPC and CNOOC to snap up the sale s single block. Petrobras owns a 40% operating stake, while Shell and Total each retain 20% shares. Chinese state oil companies CNPC and CNOOC each own 10% stakes.