Wednesday, July 06, 2011
OIL & GAS
TEAM João Carlos de Luca, Renato Bertani, Antonio Claudio P. da Silva, Cesar Cainelli Barra Energia Rio de Janeiro – RJ
RELATIONS Repsol, Petrobras, Shell do Brasil Rio de Janeiro – RJ
THE FIRST TWO BRAZILIAN COMPANIES TO ENTER OIL EXPLORATION IN THE PRE-SALT, the rookie Barra Energia do Brasil and Queiroz Galvao, paid $ 350 million to Shell Brazil, a subsidiary of global giant Royal Dutch Shell, purchasing 20% share the oil company held in the BM-S-8 ultra-deepwater pre-salt Bacia de Santos. The CEO of the Barra Energia, João Carlos França de Luca, celebrated the fact that the company - formed mostly by former employees of Petrobras and Repsol - have started their activities in a block in the pre-salt. In the block, the consortium, operated by Petrobras, discovered the accumulation called Bem-te-Vi. Barra and Queiroz Galvão bought each, 10% stake that Shell had on the block, paying $ 175 million each. Petrobras, which is the operator, owns 66% of the consortium, and portuguese Galp, 14%. MAIN INVESTORS: U.S. investment fund First Reserve Corporation and Riverstone Holdings. INVESTMENT: R$ 1 billion•
