Maersk Buys into Brazil Blocks

Maersk Buys into Brazil Blocks

Brazil

Danish shipping and oil company Maersk is acquiring stakes in 3 pre-salt oil blocks in Brazil for $2.4bn from Korean oil refiner and marketer SK Energy. Maersk's head of investor relations Henrik Lund says the acquisition will be financed with cash on hand and that no debt will be used. Maersk is buying a 40% stake in the Polvo field, a 20% in the Wahoo block and a 27% stake in the Itaipu block. BP will operate the Polvo and Itaipu blocks while Anadarko will operate the Wahoo block. Lund says th

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