General – Acquisition
Shell has agreed to sell a 20% interest in the Orca deepwater project offshore Brazil to Kuwait Foreign Petroleum Exploration Company (KUFPEC).
Orca, formerly known as Gato do Mator, is a deepwater development located in the pre-salt area of the Santos Basin. Following completion of the transaction, Shell will remain operator of the project, retaining a 50% interest.
The transaction is subject to regulatory approval, the exercise of pre-emptive rights and customary closing conditions, with completion expected by the end of 2026.
