BP agrees to sell Shell 50% stake in Tupinambá exploration block offshore Brazil
Reuters2026/09/02 18:09- BP agreed terms for Shell to buy 50% of the Tupinambá exploration block in Brazil’s Santos Basin.
- Shell will also take 30% in five deepwater Gulf of America leases covering the Conifer exploration prospect.
- BP will retain 50% of Tupinambá, 70% of Conifer, remaining operator of both assets.
- Deal supports BP’s capital allocation strategy to simplify the portfolio.
- Tupinambá transaction remains subject to regulatory approvals.
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