Petrobras Nets $270M In Sale Of Offshore Stake To OGX

Law360, New York (November 27, 2012, 4:35 PM EST) -- Brazil's state-owned oil company Petrobras will sell its 40 percent stake in an offshore block in the Santos Basin license to OGX Petroleo e Gas Participacoes SA for $270 million to focus on drilling opportunities in the presalt area, according to a securities filing on Monday.

The deal will give OGX, the energy arm of billionaire owner Eike Batista's industrial empire, a minority stake in the BS-4 block, home of the Atlanta and Oliva heavy oil fields and thought to hold at least 1.6 billion barrels...
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