24 April 2024
Shell divests stake in BM-S-8 block in Brazil's Santos Basin to QGEP and Barra Energia
Publication date: 06 July 2011
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Royal Dutch Shell has confirmed that its Brazilian subsidiary Shell Brasil Petróleo has sold off its visual_editor0% stake in the BM-S-8 deep-water subsalt exploration block off Brazil to the Brazilian upstream companies Barra Energia and Queiroz Galvão (QGEP). A Shell spokesman told Gas Matters Today: “This sale process does not impact our view of Shell’s future growth and development in Brazil”, but it is part of the company’s consistent process of reviewing its asset portfolio to ensure maximum value and return for shareholders.