THE HAGUE, the Netherlands -- Shell has completed acquisition for $1 billion of an additional 23% interest in the Parque das Conchas (BC-10) project offshore Brazil.
Following regulatory approvals the company now has a 73% operating interest. Partner ONGC has also lifted its stake to 27%, following Petrobras’ decision to exit the project.
The partners took a Final Investment Decision for Phase 3 in July. At peak the facilities should deliver a further 28,000 boe/d.