Shell to acquire bp exploration stakes in Brazil and US Gulf

Shell has agreed to acquire significant stakes in two exploration assets from bp, expanding its presence in Brazil and the Gulf of Mexico.

In Brazil, Shell Brasil Petróleo will acquire a 50% interest in the Tupinambá exploration block located in the Santos Basin. bp will retain the remaining 50% interest and continue to serve as the operator for the offshore block. The Tupinambá project is situated within the country’s pre-salt polygon.

In the United States, Shell Offshore will acquire a 30% interest in five leases covering the Conifer exploration prospect in the Keathley Canyon area of the Gulf of Mexico. The prospect is located approximately 250 miles southwest of New Orleans. bp will retain a 70% interest and remain the operator of the Conifer prospect. Drilling for the Conifer well is anticipated to begin in 2027.