BP may get approval to acquire Oklahoma-based Devon Energy’s Brazilian assets for $3.2 billion, Bloomberg reports. BP is seeking to acquire eight of the 10 Devon blocks located on Brazil’s coast. The deal, which was expected to be completed in 2010, still awaits formal approval of the transfer.
The regulator, ANP, has been reviewing BP’s operational and financial capabilities and has asked the company for additional documentation after the spill at the offshore Macondo well in the Gulf of Mexico. Oklahoma-based Devon offloaded all of its offshore and international assets last year to focus on production in the U.S. and Canada.
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