AziLat Petroleum has entered into a transaction with OGX Petroleo e Gas to acquire OGX’s full interest in two blocks offshore Brazil. The blocks, CE-M-603 and POT‑M‑475, are located in the Ceara Basin and the Potiguar Basin, respectively, in the Equatorial Conjugate Margin and are operated by ExxonMobil Exploracao Brasil. Following the completion of the transaction, AziLat will control 50% participating interest in the first block and 65% in the second block, with ExxonMobil holding the remaining interest.
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