ExxonMobil is to sell a 25% stake in an offshore Brazilian oil prospect.

The prospect, block BM-S-22 in the Santos Basin, is expected to carry as much as 1.5 billion barrels of recoverable crude.

ExxonMobil, as operator of the project, holds a 40% stake, Hess of New York has 40% and Rio de Janeiro-based Petroleo Brasileiro owns 20%.

The move comes after ExxonMobil’s drilling of two wells failed to strike crude, reports Bloomberg.