Shell divests second Brazil asset

Brazil

SÃO PAULO, January 21, 2015 – Independent explorer HRT Participações em Petróleo on Wednesday confirmed that it had purchased Shell’s 80-percent stake in Brazil’s offshore Bijupira and Salema fields, Dutch media reported. The deal, pending approval from the Brazilian antitrust authorities, includes the Fluminense floating production, storage and offloading vessel, which was installed in 2003. Petrobras holds the remaining 20 percent in the venture.

Shell’s divestment comes one year after the sale of a 23-percent stake in the Parque das Conhcas project, also offshore Brazil, to Qatar Petroleum. During the first nine months of 2014, the Anglo-Dutch company shed $11.6 billion worth in assets around the world.

Production from Parque das Conhcas, Bijupira and Salema averaged 76,800 barrels of oil equivalent in November, according to the most recent Brazilian figures.

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