Oil and gas company QGEP Participacoes has acquired a stake in an offshore oil block. Royal Dutch Shell, which owns 20% of the block will sell a 10% stake to QGEP.
The financial details of the transaction have not been disclosed. The completion of the transaction is subject to approval from Brazil’s oil regulator, ANP. Petrobras operates the oil block.
Click here for the release from PR Newswire.