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Stock impact report

Shell to sell 20% Orca Project stake to Kuwait's KUFPEC [Yahoo! Finance]

Ecopetrol S.A. American Depositary Shares (EC) 
Company Research Source: Yahoo! Finance
The financial terms of the deal were not disclosed. Located in the pre-salt region of Brazil's Santos Basin, the Orca Project – formerly known as Gato do Mato – is a deep-water, unitised development that includes both the BM-S-54 concession contract and the South Orca production sharing contract (PSC). Shell will continue as the project operator and retain a 50% ownership following the transaction. According to the company, the deal underscores its capital allocation strategy across its global portfolio, maintaining its position as the largest foreign oil and gas producer in Brazil. Additionally, it enhances the strategic alliance between Shell and KUFPEC in various upstream sectors. The closing of the deal is pending regulatory approval and subject to preemptive rights and closing conditions. It is expected to conclude by late 2026. Shell upstream president Peter Costello said: “We are pleased to welcome KUFPEC as a partner in Orca, a project essential to sustaining liqu Show less Read more
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