Shell and ONGC pre-empt Sinochem's acquisition of Petrobras' 35% stake in BC-10 for $1.54 billion Report

Deal Insight 01 October 2013

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Report summary

The Parque das Conchas fields (BC-10) are located in the ultra-deep waters (1,470-1,920 meters) of the Campos Basin. The project's other participants are Shell (50% and operator) and ONGC (15%). The development of the field has been spread over three phases. Currently, Shell is developing Phase Two, which is targeting the Argonauta O South reserves and is expected onstream by the end of 2013. Phase Three, which will target the Massa field and the Argonauta O North reserve, is expected ...

Executive summary
Transaction details
Upstream assets
- Parque das Conchas development plan
Deal analysis
Upsides and risks
- Project slippage
- Additional reserves in Nautilus-Manganga
Strategic rationale
- Sinochem
- Petrobras
Oil & gas pricing and assumptions

Tables and charts

This report includes 11 images and tables including:

Executive summary: Table 1
Deal analysis: Table 1
Deal analysis: Table 2

Deal analysis: Table 3
Oil & gas pricing and assumptions: Table 1
Oil & gas pricing and assumptions: Table 2
Upstream assets: Table 1
Wood Mackenzie production and capex forecasts for Parque das Conchas (BC-10) (net 35%)
Strategic rationale: Table 1
Timeline of Petrobras' disposal programme
Parque das Conchas (BC-10)