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Feb 3, 2026 4:01 PM

Shell Sells 20% Stake To Kuwait Oil Player While Keeping Control Of Brazil's Orca Oil Prize

Shell PLC (NYSE:SHEL) stock rose Tuesday after its Brazilian subsidiary, Shell Brasil Petróleo Ltda., disclosed the sale of a 20% stake in the Orca deep-water development in Brazil's pre-salt Santos Basin to Kuwait Foreign Petroleum Exploration Company (KUFPEC).

The Orca project is a unitized development that includes the BM-S-54 Concession Contract and the Sul de Orca Production Sharing Contract (PSC).

Before KUFPEC's entry, the licenses were held by Shell (operator with 70% working interest), Ecopetrol (30% WI), and Pré-Sal Petróleo S.A. (PPSA) as PSC manager.

Deal Details

The transaction aids Shell in managing capital efficiently ...