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BW Offshore to take stake in Brazilian oil field

BW Offshore has signed a letter of intent (LOI) to take a 30% stake in a Brazilian oil field.

Marcus Hand, Editor

December 16, 2013

1 Min Read
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The Oslo-listed company has signed a deal to take half of HRT Participações em Petróleo’s stake in the oil field.

BW Offshore owns and operates the FPSO Polvo, which operates in the field under contract until the third quarter of 2014 with options through till third quarter 2022.

The Polvo oil field is located in the Campos basin in Brazil. The field was brought onstream in 2007, with a 2013 year to date production of about 12,000 barrels of oil per day.

The deal is subject to due diligence by BW Offshore, as well as to regulatory, governmental and board approvals.

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About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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