11:48 PM EDT, 09/02/2026 (MT Newswires) -- BP (BP.L) said Wednesday it agreed to divest interests in the Tupinambá and Conifer exploration prospects to fellow energy company Shell (SHEL.L, SHELL.AS). Subject to regulatory approvals, the oil and gas company is selling a 50% stake in the Tupinambá exploration block in the Santos Basin to Shell Brasil Petróleo. The block contains an exploration well expected to spud soon. BP is also divesting a 30% stake in five leases encompassing the Conifer exploration prospect in the Paleogene to Shell Offshore. Drilling at the site is expected in 2027. Amid the sale, BP will continue to operate both projects, retaining a half-stake in the Tupinambá block and a 70% stake in leases containing the Conifer prospect.

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