Petrobras has farmed out a considerable portion of its holding in a block offshore Tanzania to Norwegian state-run oil company Statoil
The latter has received a 12 per cent stake in Block 6 in the Indian Ocean from the Brazilian state-owned energy company, Statoil announced.
The purchase price for the stake has, however, not been revealed.
Once the deal is completed, field operator Petrobras will have a 38 per cent share in the block along with Royal Dutch Shell in for 50 per cent.
Block 6 covers 5,549 sq km in the Mafia Basin and sits in water depths of around 1.8km.
Statoil said, “Block 6 is located approximately 170km north of the Statoil-operated Block 2, where the company in 2012 and 2013 has made three high-impact gas discoveries.”
Petrobras is also operator of the adjacent Block 5. In late 2011, the energy firm farmed out a 50 per cent stake in both blocks to Shell.
