BP agrees to sell Shell 50% stake in Tupinambá exploration block offshore Brazil - BP News | RalliesBP agrees to sell Shell 50% stake in Tupinambá exploration block offshore Brazil
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BP• BP and Shell agree on Brazil and Gulf of America asset sale
- BP agreed terms for Shell to buy 50% of the Tupinambá exploration block in Brazil’s Santos Basin.
- Shell will also take 30% in five deepwater Gulf of America leases covering the Conifer exploration prospect.
- BP will retain 50% of Tupinambá and 70% of Conifer, and remain operator of both assets.
- The deal supports BP’s capital allocation strategy to simplify the portfolio.
- The Tupinambá transaction remains subject to regulatory approvals.
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