Maersk mulls sale of Brazil offshore stakes

Tuesday, January 31, 2017

Danish shipping and energy conglomerate AP Moller-Maersk could sell its oil and gas assets in Brazil as it focuses on the North Sea, according to CEO Claus Hemmingsen.

"We have said that we will focus on fewer geographies and certainly in the North Sea," Hemmingsen said on the sidelines of an event in Florence, as quoted by Reuters .

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He added that investments would be targeted on projects in Norway and the UK.

Maersk has a 20% stake in the Wahoo field and a 27% share of the Itaipu field, both in the Campos basin off Brazil's southeast coast.

Hemmingsen described the assets as being "on the fringe" of its portfolio.