Tue Nov 4, 2008 4:34am EST
TOKYO, Nov 4 (Reuters) – Japan’s top oil and gas explorer, Inpex Corp (1605.T:Quote, Profile, Research, Stock Buzz), said on Tuesday it has received the Brazilian authorities’ approval to acquire a 20 percent interest in offshore block BM-C-31 in Brazil from Royal Dutch Shell (RDSa.L: Quote, Profile, Research, Stock Buzz).
The block, which covers an area of 710 square km (274 sq miles), is located 150 km (94 miles) off the coast of the state of Rio de Janeiro.
An exploration well is scheduled to be drilled in the coming year. The block lies in Campos basin, where large amounts of oil and gas have been discovered. (Reporting by Osamu Tsukimori)
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