SAO PAULO, Oct 1 (Reuters) – Brazilian state-run oil company Petrobras (PETR4.SA), opens new tab announced on Tuesday that its board gave a green light to acquire a 10% stake in the offshore Deep Western Orange Basin (DWOB) oil block in South Africa, according to a securities filing.
The purchase of the stake in the deep water field followed a competitive process held by French oil major Total (TTEF.PA), opens new tab, which operates the project and will retain a 40% stake in the block.
Source:reuters.com