LOI with program of three firm exploration wells provides multiple opportunities for a significant discovery in underexplored Block 9 onshore acreage
Both firms have held too little market share to cause concerns, Brazilian authorities concluded.
There were 192 oil and gas rigs operating in the region in September, of which 167 were onshore and 25 offshore, according to data published by Baker Hughes on Friday.
Process Oil & Gas will obtain an investment of USD 727 million and the signing of modifying contracts for the development of the Libertador and Cuyabeno fields will reach an investment of USD 895 million
Revolving Credit Facility and Pre-Payment of Debt with Banco do Brasil