Offshore

Statoil buys stake in Brazilian oil field for USD 2.9 billion

Norway's Statoil has bought 25 percent of a large Brazilian oil field from Petrobras for upwards of USD 2.9 billion. With the acquisition, the oil major almost triples its production in Brazil, says Statoil in a press release.
Photo: Øyvind Hagen - Statoil
Photo: Øyvind Hagen - Statoil
by KATRINE GRØNVALD RAUN

Statoil takes another big bite into the Brazilian market by acquiring 25 percent of large oil field Roncador, informs the oil company Monday. The deal was made with the Brazil's Petrobras, and Statoil will at first pay USD 2.35 billion, while contingent payments could total USD 550 million.

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