BP takes on more Brazilian offshore acreage

LONDON, July 15 Mon Jul 15, 2013 9:03am EDT

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LONDON, July 15 (Reuters) - British oil company BP PLC said on Monday it would farm in to five deepwater exploration and production concessions operated by state-owned Petrobras in the Potiguar Basin, expanding its Brazilian offshore presence.

Subject to regulatory approvals, BP Energy do Brasil Ltda. will take a 30 percent interest in blocks POT-M-663, and POT-M-760 (contract BM-POT-16), and a 40 percent interest in blocks POT-M-665, POT-M-853 and POT-M-855 (contract BM-POT-17). Together these blocks cover a total area of 3,837 square kilometres, BP said.

It did not give any financial details.

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