Pacific Rubiales and Karoon in Brazilian farm-out agreement

Brazilian firm LO Baptista, Schmidt, Valois, Miranda, Ferreira, Agel and Norton Rose LLP in Canada have helped Pacific Rubiales enter into a farm-out agreement with the Brazilian oil and gas arm of Australia’s Karoon which will see the Canadian petroleum company acquire a stake in four offshore oil and gas exploration blocks located in Brazil’s Santos Basin, with an option to gain an interest in a fifth.

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