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Shell sells its 20% interest in BM-S-8 to Queiroz Galvão and Barra Energia

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05 July 2011

Shell sells its 20% interest in BM-S-8 to Queiroz Galvão and Barra Energia

Report summary

Queiroz Galvão (QGEP) and Barra Energia have together agreed to purchase Shell's 20% stake in exploration block BM-S-8, located in the prolific pre-salt Cluster Area of Brazil's Santos Basin. The total consideration is US$350 million.Although BM-S-8 contains a couple of existing discoveries, these are limited in size, and we consider the bulk of the value in the deal to lie in the remaining exploration potential of the block. Our analysis suggests that the buyers will ...

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This report includes 2 images and tables including:

  • Santos Basin - the pre-salt Cluster Area
  • Upstream assets: Table 1

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    Shell sells its 20% interest in BM-S-8 to Queiroz Galvão and Barra Energia

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