Wednesday, October 16, 2019

Shell Consortium, Petronas Win Oil Blocks Off Brazilian Coast

October 10, 2019

A consortium of Royal Dutch Shell Plc, Chevron Corp and Qatar Petroleum won oil exploration and production rights in the C-M-713 block off the coast of Brazil on Thursday, paying the government a signing bonus of roughly 551 million reais ($133 million).

Shortly before, Petronas won a separate offshore block, C-M-661, with a signing bonus of roughly 1.116 billion reais.

(Reporting by Gram Slattery, Marta Noguiera and Rodrigo Viga Gaier, editing by Deepa Babington)

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