BW Offshore receives endorsement to acquire the Maromba field of Petrobras and Chevron

Norway’s floating production storage and unloading group, BW Offshore, received unrestricted endorsement from the Administrative Council for Economic Defense (Cade) for the acquisition of the Maromba field (block BC-20A) of Petrobras and Chevron, according to the publication of the antitrust agency in the Official Gazette of the Union this Wednesday.

Petrobras owned 70% of the asset, in the Campos basin, in Rio de Janeiro, while Chevron owned a 30% share.

The companies have not revealed the value of the agreement.

“The transaction represents an opportunity for BW to enter and start its activities in the oil and natural gas exploration and production market in Brazil,” Cade said, adding that the transaction “does not raise competitive concerns.”

Petrobras informed the Cade that the sale is part of its divestment program and also aims to optimize the portfolio, while Chevron said the operation is strategic to allow the focus on other projects.

The Maromba field is located in the Campos Basin, with a water depth of 160m. It is a heavy oil field of shallow water near the producing fields of Peregrine and Papa-Terra.

BW Offshore is a company that acts in the global segments of ships and gas, in addition to offshore activities providing energy transport and infrastructure services.

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