In a 3 October announcement, Kuwait’s overseas upstream investor Kufpec, said it has acquired a 20% stake at the Shell operated Orca and Sul De Orca asset in Brazil.
The Orca development is a deepwater project in Brazil’s pre-salt Santos basin that is due to begin producing 120,000 b/d in 2029 through an FPSO. Shell will retain a 50% operating stake, alongside Colombia’s Ecopetrol (30%). The transaction is subject to regulatory approval. (CONTINUED - 143 WORDS)