DEA Deutsche Erdoel AG plans to buy a 50% stake in five oil and gas exploration blocks located in Santos Basin, Brazil, from Karoon Gas Australia Ltd.
The five blocks, S-M-1037, S-M-1101, S-M-1102, S-M-1165, and S-M-1166 contain the Echidna and Kangaroo discoveries.
Echidna discovery includes a leased floating production, storage and offloading (FPSO) facility, two extended horizontal production wells and a gas injection well.
The blocks will be jointly owned by Karoon Gas and DEA Deutsche upon completion of the transaction, with Karoon Gas acting as the operator.
http://www.offshore-technology.com/...nd-offshore-drilling-cox-oil-offshore-5891611
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