Shell sells 23% share in project in Brazil to Qatar Petroleum

SAO PAULO-the Shell hit the sale of a 23 percent stake in deepwater Brazilian project Parque das Conchas (BC-10), in the Campos Basin, to the Qatar Petroleum International for about $ 1 billion.
The transaction has to be approved by the national petroleum Agency (ANP) and by the Administrative Council for economic Defense (Cade).
In a statement, Shell said that will continue to operate the BC-10 and maintains significant production in Brazil.
Currently, the Parque das Conchas produces about 50 thousand barrels of oil equivalent (BOE) per day since it went into operation in 2009, produced more than 80 million barrels of oil equivalent.