DENMARK’S A.P. Moller-Mærsk yesterday announced a £1.56billion Brazilian acquisition.
Mærsk Oil has agreed to buy assets from South Korea’s SK Energy.
Moller-Mærsk said the deal gave Maersk Oil access to sizeable pre-salt assets offshore Brazil, one of the most prolific regions in the world for oil exploration and production.
The group added that the purchase offered immediate production and significant growth potential as discoveries identified in the acreage were appraised.
In addition, the acquisition is said to offer a strong upside from blocks in the Campos Basin as exploration prospects are tested.
Moller-Maersk chief executive Nils Andersen said: “A.P. Moller-Maersk Group has the stated ambition to grow Maersk Oil.
“This investment will contribute significantly to replacing Maersk Oil’s reserves in the long term as we now expand Maersk Oil’s position in one of the world’s most attractive regions for the exploration and production industry.”