Deals
Shell to Sell Brazil Offshore Fields to HRT in Oil Rout
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Royal Dutch Shell Plc, the second-largest oil operator in Brazil, is selling a stake in one of its crude-producing projects in the country to HRT Participacoes em Petroleo SA, according to a regulatory filing.
HRT, based in Rio de Janeiro, agreed to buy Shell’s 80 percent stake in the Bijupira and Salema fields, an offshore venture that started production in 2003, according to a Brazil filing Tuesday. HRT will boost output to more than 30,000 barrels a day, and also is buying the FPSO Fluminese ship. The acquisition will be financed by HRT’s first bond sale and a loan led by a Glencore Plc unit. HRT didn’t provide a purchase price.