The Danish shipping and oil group's Maersk Oil unit has agreed with SK Energy to acquire SK do Brasil Ltda. on a cash and debt-free basis, A.P. Moller-Maersk said on Thursday.

The acquisition gives Maersk Oil access to sizable assets offshore Brazil, one of the most prolific regions in the world for oil exploration and production, the group said.

"The acquisition is consistent with our strategy as it will transform Brazil into a core producing country for Maersk Oil," Maersk Oil Chief Executive Jakob Thomasen said in the statement.

"It fits in perfectly," Thomasen told Reuters by telephone, referring to Maersk Oil's five existing exploration blocks which are also in Brazil's Campos Basin.

"We have a handful of blocks (off Brazil) — still only exploration activities but good activities — and now we get these blocks that are the best street addresses that you can have in the oil business," Thomasen said. "We believe there is a lot of potential."

The acquisition comprises three blocks, including a 40 percent stake in the Devon-operated Polvo field, a 20 percent stake in the Anadarko-operated Wahoo discovery, and a 27 percent stake in the Devon-operated Itaipu discovery, Maersk said.

BP has bought Devon's Brazil activities and will become operator of those licenses.

Thomasen said the combination of existing production — Maersk will get about 10,000 barrels per day of oil from the Polvo field — and long-term exploration potential was particularly attractive.

"It offers immediate production and significant growth potential as discoveries identified in the acreage are appraised," said Maersk which has been in Brazil since 2001.

"The Wahoo and Itaipu discoveries will be appraised in 2011 and first oil may be possible by 2016 and 2018, respectively," Maersk said. "Additional exploration prospectivity has been observed in both these blocks, some of which is planned to be tested in 2013."

Thomasen said there was also potential for more activities at Polvo but Maersk would need to analyze that possibility further with its new partners.

A.P. Moller-Maersk Chief Executive Nils Smedegaard Andersen told Reuters that the acquisition was fully funded from cash flow and existing facilities.

Andersen declined to give any indication of the size of the Wahoo and Itaipu discoveries, and said: "Nor do we know that either, but it looks very promising."

SK Energy said in a statement that the sale demonstrated a shift in strategy to grow as a global major from an oil development company.

"With liquidity to be achieved from this sale to Maersk, SK Energy will seek various business opportunities such as acquiring oil reserves at development and production stages, or buying an overseas oil developing company," it said.

SK Energy said separately it would sell its coal and minerals business in Australia, China and Indonesia to SK Networks for 236.6 billion won ($205 million).