water of 2,000 metres and began production in 2009. The Ostra field in the block pumps about 21,000 barrels per day of oil.
A second-phase development is expected to start by the end of this year, with a peak production of 35,000 barrels of oil equivalent per day.
"When Petrobras put its 35 per cent stake in BC-10 for sale, OVL evinced interest but for strategic reasons did not place a bid," a source said.
Shell too did not put a bid for the stake and unlike OVL, it did not even visit the dataroom Petrobras had set up to lure potential buyers.