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Woodside says farms into Repsol's Brazil acreage

Written by: Staff

SYDNEY, Nov 22 (Reuters) Woodside Petroleum Ltd , Australia's top independent oil and gas company, said on Wednesday it has acquired a 25 percent stake from Spanish oil company Repsol YPF in nine exploration blocks in southeastern Brazil.

Woodside said in a statement that the blocks are about 180 kilometres southeast of Sao Paulo in water depths of 150 to 1,000 metres and cover 2,060 square kilometres.

Preliminary data showed that some fields have an estimated gas reserve of up to 2 trillion cubic feet, Woodside's spokesman Rob Millhouse said.

The company did not say how much it paid for the farm out agreement.


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