On 30 December 2013, Royal Dutch Shell completed the acquisition of an additional 23% interest in the Parque das Conchas (BC-10) project offshore Brazil for USD 1 billion, raising its operating interest in BC-10 to 73%, effective 1 January 2013. Partner ONGC, previously holding a 15% working interest, now holds a 27% working interest. This purchase was the result of ONGC and Shell pre-empting Sinochem’s bid for Petrobras’ 35% interest in BC-10. On 29 January 2014, Shell agreed to sell a 23% interest in BC-10 toQatar Petroleum International for around USD 1 billion, subject to Brazilian regulatory and anti-trust authority approvals.
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