Murphy Oil Corporation based in El Dorado, Arkansas announced this week it is buying a 20 percent working interest in part of a deep water basin off the shores of Brazil.
Murphy’s wholly owned Brazilian subsidiary, Murphy Brazil Exploracao E Producao De Petroleo E Gas Ltda will own part of the Sergipe-Alagoas Basin. It made the 20 percent purchase from Queiroz Galvao Exloracao e Producao S.A.
Two blocks in the offshore basin were part of the purchase. They are located 50 to 60 miles off the coast of Brazil and cover nearly 580 square miles.
Murphy Oil, a global independent oil and natural gas exploration and production company also has offshore production in Southeast Asia, Canada and the Gulf of Mexico.