Maersk mulls Brazil energy sales

Maersk Energy is mulling selling its oil and gas business in Brazil, its ceo has told Reuters.

“We have said that we will focus on fewer geographies and certainly in the North Sea. Norway and the United Kingdom will be an area of focus for Maersk Oil,” Maersk Energy CEO Claus Hemmingsen told Reuters. While its assets in Brazil have yet to be put on the market, Hemmingsen said the company is reviewing its portfolio in Latin America.

Maersk’s assets in Brazil’s offshore Campos basin – a 20% stake in the Wahoo field and a 27% stake in Itaipu assets – appear “on the fringe” of the company’s portfolio, Hemmingsen said.

AP Moller-Maersk last September revealed plans to split the group between energy and transport and infrastructure with a view to eventually selling its energy assets.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
Back to top button