Shell Sells 20% of the Orca Project, in the Presalt of the Santos Basia, for Kuwait Oil

Globo

Lean Right

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Ownership

After the end of the operation, Shell will remain an asset operator with 50% participation

braziljournal.com

Factuality

Ownership

The Shell is selling 20% of the Orca Project, in the presalt of the Santos Basia, previously called the Gato do Mato, to a group of Kuwait, which is located in Brazil with the transaction. The value of the business has not been revealed. The transaction is seen on the market as a strategic effort of Shell to reduce costs with an asset considered less attractive, while keeping focus on key fields like Mero. The Shell will continue as Orca operato…

El Economista

Factuality

Ownership

Shell reported on Tuesday that she agreed to sell a 20% stake in her Orca project, on the coast of Brazil, to the Kuwait Foreign Petroleum Exploration Company (KUFPEC).Shell will maintain a 50% stake and will remain the operator, according to the company, who added that it will retain its position as the largest foreign producer in Brazil.The agreement is expected to be completed by the end of 2026.The agreement is subject to the authorization o…

elperiodicodelaenergia.com

Factuality

Ownership

Shell has announced that it sold to the oil company Kuwait Foreign Petroleum Exploration Company (Kufpec) a 20% stake in Orca, a project in Brazil to exploit gas reserves in deep waters of the Atlantic Ocean that it develops in partnership with the Colombian Ecopetrol. After the business, whose amount has not been announced, Shell remains as operator and controller of the project, with a 50% stake, while Ecopetrol retains its 30%. After several …