BW Offshore seals deal for Chevron stake in Maromba field

BW Offshore seals deal for Chevron stake in Maromba field

BW Offshore has finalised an agreement with Chevron to acquire a 30% stake in the Maromba field, offshore Brazil, forking out $25m.

The acquisition follows a $90m deal earlier this week with Petrobras for a 70% stake.

Oslo-headquartered BW Offshore, part of Singapore’s BW Group, had announced its intentions last week to acquire the field, which had been up for sale for around two years.

Maromba is located in the Campos Basin and has potential recoverable resources of 100-150 million barrels of low-sulphur 16 API oil.

BW Offshore currently owns 15 FPSOs and plans to deploy one them to the field.

The deal still requires approval by The Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP).

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

Related Posts