OGX acquires Petrobras' stake in Atlanta and Oliva fields
OGX is to purchase Petrobras' 40% stake in the BS-4 project (Brazil) for US$270 million. The project comprises two heavy oil fields, Atlanta and Oliva, located in the ultra-deep waters of the northern Santos Basin. The proposed development solution is to use a leased FPSO and subsea wells, with first oil in 2017. There is also pre-salt exploration potential beneath Atlanta. For Petrobras, this disposal marks the first move in a much wider global portfolio restructuring programme ...