🕐24.05.13 - 15:54 Uhr

PETROBRAS - PRESS RELEASE: PETROBRAS FARMS OUT IN TANZANIA EXPLORATION LICENSE



 

 

Dear Mr/Mrsr Ramin Farzanehfar,

 

Petrobras farms out in Tanzania Exploration License
 

 

Rio de Janeiro, May 24th, 2013 – Petróleo Brasileiro S.A - Petrobras announces that its wholly owned subsidiary Petrobras Tanzania Ltd.

has signed a farm-out agreement for the sale of 12% working interest  in Block 6 licence offshore Tanzania to Statoil Tanzania AS.

Block 6 covers 5,549 square kilometres in the Mafia basin offshore Tanzania, with a water depth of 1,800 metres.

The consortium of this block currently have Petrobras as the operator, holding 50% stake, and Shell Deepwater Tanzania B.V., with the remaining 50%.

After the farm-out completion, Petrobras will remain as the operator with 38%, Statoil will hold 12%, while the remaining 50% will be held by Shell.

This transaction is subject to approval by Tanzanian authorities and will bring into the consortium a company that has made significant gas discoveries in the country in 2012 and 2013.

 

Sincerely, 

Investor Relations. 

 

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