𝗞𝗨𝗙𝗣𝗘𝗖 𝗝𝗼𝗶𝗻𝘀 𝗢𝗿𝗰𝗮 𝗣𝗿𝗼𝗷𝗲𝗰𝘁

Early this week, 𝗦𝗵𝗲𝗹𝗹 announced the sale of a 20% working interest in the 𝗢𝗿𝗰𝗮 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 (𝗣𝗿𝗲-𝗦𝗮𝗹𝘁 𝗦𝗮𝗻𝘁𝗼𝘀 𝗯𝗮𝘀𝗶𝗻) to 𝗞𝘂𝘄𝗮𝗶𝘁 𝗙𝗼𝗿𝗲𝗶𝗴𝗻 𝗣𝗲𝘁𝗿𝗼𝗹𝗲𝘂𝗺 𝗘𝘅𝗽𝗹𝗼𝗿𝗮𝘁𝗶𝗼𝗻 Company (𝗞𝗨𝗙𝗣𝗘𝗖). The Orca and Sul de Orca fields were declared commercial in mid-2025.

Both areas originate from the 𝗦-𝗠-𝟱𝟭𝟴 (𝗚𝗮𝘁𝗼 𝗱𝗼 𝗠𝗮𝘁𝗼) and 𝗦𝘂𝗹 𝗱𝗲 𝗚𝗮𝘁𝗼 𝗱𝗼 𝗠𝗮𝘁𝗼 blocks, acquired respectively in the 7th Concession Bid Round (2005) and the 2nd Production Sharing Bid Round (2017). The original consortium was formed by 𝗦𝗵𝗲𝗹𝗹 (50%), 𝗘𝗰𝗼𝗽𝗲𝘁𝗿𝗼𝗹 (30%), and 𝗧𝗼𝘁𝗮𝗹𝗘𝗻𝗲𝗿𝗴𝗶𝗲𝘀 (20%).

Last year, 𝗦𝗵𝗲𝗹𝗹 acquired 𝗧𝗼𝘁𝗮𝗹𝗘𝗻𝗲𝗿𝗴𝗶𝗲𝘀’ stake in the project and has now transferred the same 20% interest to 𝗞𝗨𝗙𝗣𝗘𝗖. As a result, the current consortium structure for both fields is 𝗦𝗵𝗲𝗹𝗹 (50%), 𝗘𝗰𝗼𝗽𝗲𝘁𝗿𝗼𝗹 (30%), and 𝗞𝗨𝗙𝗣𝗘𝗖 (20%).

According to 𝗦𝗵𝗲𝗹𝗹’s press release, the deal is subject to regulatory approvals and closing conditions, with completion expected by the end of 2026.