Chevron buys Anadarko and maintains focus on Pre-salt

Confirming its planning to prioritize Pre-salt, Chevron buys Anadarko and increases its stakes in Brazil

Another major merger of oil companies has just taken place, Chevron announced this Friday (12/4) an agreement to acquire Anadarko for US$ 33 billion.
It is worth remembering that in February 2016, Shell and BG merged, in a negotiation that led to Shell becoming the main partner of Petrobras in the pre-salt.

The negotiation has already been approved by the boards of directors of both companies and should be completed in the second half of this year, as approval from regulatory bodies is still pending.
The company's headquarters will remain in San Ramon, California (USA) and the company's CEO will be Chevron's president, Michael Wirth.

Chevron's current portfolio

With the operation, Chevron expanded its portfolio in Brazil, from eight to ten areas and now owns 30% and 33%, which belonged to Anadarko, in blocks CM-101 and CM-61 (Campos basin), respectively.

Chevron has interests in four more areas of the Campos Basin, namely: CM-791 (40%), CM-821 (40%), CM-823 (40%) and in the Papa-Terra field (37,5 %).
Petroleira is also present in the Santos Basin, where it has stakes in the CE-M-715 (50%), in the Ceará Basin; in the SM-764 block (40%), and in the Três Marias (30%) and Saturno (50%) sharing areas.

With the acquisition of Anadarko, Chevron only confirms its current focus, which is the exploration of the pre-salt fields, and for that very reason, it disposed of some of its assets.

At the end of last year the company sold its 51,74% stake in the Frade field to the Brazilian PetroRio. The Frade field is the same one where an oil spill occurred in 2011.
Another big sale by Chevron was the 30% it held in the Maromba field to BW Offshore, in March of this year.

In another great merger, this time between rig operators, Ensco and Rowan join and now have 82 Offshore Rigs! Access the details here!