Shell currently owns a 20% working interest in the block, which is operated by Brazil-based Petrobras and owned by a consortium comprised of Petrobras, Petrogal and Shell.
The transfer of Shell’s participating interest to QGEP is subject to approval by ANP, Brazil’s energy regulator.
QGEP CEO Jose Filho said this farm-in agreement demonstrates QGEP’s strategy of building value by investing in high quality assets that diversify and strengthen its portfolio.
