QGEP will buy a 50% and 70% stake held by Pacific in blocks PAMA-M-337 and PAMA-M-265, respectively, in the Para-Maranhao basin and a 30% participation in Block FZA-M-90 in the Foz do Amazonas basin.
As part of the agreement, Pacific will pay the outstanding amount due to QGEP related to the acquisition of seismic for the Para-Maranhao blocks, and will compensate QGEP for part of the minimum financial obligations totalling $10 million.
QGEP
