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PBR » Topics » 26.3. Investment in the Gulf of Mexico

This excerpt taken from the PBR 6-K filed Nov 21, 2007.

26.3. Investment in the Gulf of Mexico

On October 03, 2007 Petrobras acquired a further 26 blocks in the Gulf of Mexico at an auction held by Minerals Management Service (MMS). Of the 26 blocks, Petrobras secured a 100% share and the role of operator in 20 blocks. The remaining blocks (six) were purchased in partnership with Devon Energy, of which two will be operated by Petrobras and four by Devon, and participations with be shared equally with 50% for each.

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