BP Partners With Shell on Conifer and Tupinambá Offshore Exploration
Shell plans to take a 30% stake in the Conifer deepwater exploration prospect in the Gulf of America, while BP keeps 70% and operatorship. BP also agreed to buy a 50% interest in the Tupinambá exploration block in Brazil’s Santos Basin and retain operatorship as drilling is expected to start soon. Both deals aim to share risks in key regions.