Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

QPI takes 23pc stake in Shell's Brazil oilfield  Join our daily free Newsletter

MENAFN - The Peninsula - 30/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Qatar Petroleum International (QPI) has entered into an agreement with oil major Royal Dutch Shell to buy 23 percent stake in the Brazilian oilfield Parque das Conchas (BC-10) for approximately 1bn. Shell will continue to operate BC-10 with a 50 percent working interest and retains a significant presence in Brazil, while QPI will be an active non-operating partner and will support the developments of the project



The transaction is subject to final approvals from the National Petroleum and Gas Agency (ANP, Brazil's Oil and Gas regulator) and the Administrative Council for Economic Defense (CADE, Brazil's anti-trust authority), QPI said here yesterday



Currently, BC-10 is producing approximately 50,000 boe/d. Since coming on-stream in 2009, BC-10 has produced more than 80 million barrels of oil equivalent (boe). Phase 2 of the project, to tie-in the Argonauta O-North field, came online on October 1st 2013, with an expected peak production of 35,000 boe per day. Final Investment Decision for Phase 3 of the BC-10 project was taken in July 2013 and once online is expected to reach a peak production of 28,000 boe



The agreement marks the first investment QPI has made in South America. Nasser Al-Jaidah, QPI's Chief Executive Officer, expressed his great satisfaction with the agreement stating "QPI's interest in Brazil's BC-10 demonstrates our commitment to expanding our strategic and international investments globally.

 


The Peninsula




  MENA News Headlines
 Apr 1 2015 - Saudi Arabia's USD533.2m Butanol plant to operate in Q3MENAFN
(MENAFN) Saudi Butanol Co. plant project, valued at USD533.2 million, is forecast to start its experimental operations in the third quarter of 2015, Arab News reported.Butanol, located in Jubail, is ...

 Apr 1 2015 - UAE's TAQA records USD820m net loss in 2014MENAFN
(MENAFN) Abu Dhabi National Energy Co (TAQA) registered USD820 million losses for 2014, against a similar USD685.94 million in 2014 due to falling oil prices, Arabian Business reported.The ...

 Apr 1 2015 - UAE's The Luxury Closet obtains USD2.2m fundMENAFN
(MENAFN) Dubai-based The Luxury Closet, launched in 2011, reported the securing of USD2.2 million finances from its local venture capital investors, Arabian Business reported.The online platform, ...

 Apr 1 2015 - UAE economy forecasts USD400b food imports in 10 yearsMENAFN
(MENAFN) The UAE government expects that the food industry imports will increase to USD400 billion in ten years' time, marking a jump from 2014's USD100 billion, according to the UAE Minister of ...

 Apr 1 2015 - China completes evacuation of its nationals from YemenJordan News Agency
(MENAFN - Jordan News Agency) China completed on Tuesday the evacuation of its nationals from Yemen, with more than 570 people safely transported across the Red Sea to Djibouti to be flown ...

 Apr 1 2015 - Palestinian students suffocate by Israeli tear gasJordan News Agency
(MENAFN - Jordan News Agency) A number of Palestinian students Tuesday suffocated by tear gas fired by Israeli soldiers near Bethlehem.Member of Tekoa's village municipality, Zuhair Al-Shaer, told ...

 Apr 1 2015 - Israel demolishes room, fences in Wadi Al-Joz in JerusalemJordan News Agency
(MENAFN - Jordan News Agency) Israeli occupation forces on Tuesday bulldozed an area where Muslims perform their wudu (ablution) and a room in the Wadi Al-Joz neighborhood, north of occupied ...

 Apr 1 2015 - Floating storage and regasification unit arrives in Aqaba on May 25: ministerJordan News Agency
(MENAFN - Jordan News Agency) The floating storage and regasification unit (FSRU), which was leased for the liquefied natural gas terminal in Aqaba Port, will arrive in Aqaba on May 25, Minister of ...

 Apr 1 2015 - Treasury receives $57 million final payment of US grantJordan News Agency
(MENAFN - Jordan News Agency) The United States Agency for International Development (USAID) transferred to the Treasury account the second installment, its final payment, amounting to $57 million ...

 Apr 1 2015 - Third International Humanitarian Pledging Conference for Syria starts in KuwaitJordan News Agency
(MENAFN - Jordan News Agency) The Third International Humanitarian Pledging Conference for Syria opened in Kuwait on Tuesday with the participation of delegations from 78 countries and 40 ...

more...


 






Google

Arab Advisors_12th convergence conf

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help