December 18, 2017 / 6:15 AM / a month ago

CORRECTED-BRIEF-Statoil buys stake in major Petrobras oilfield for up to $2.9 bln

(Corrects sum in headline)

Dec 18 (Reuters) - Statoil Asa:

* REG-STATOIL ASA ACQUIRES 25% OF THE RONCADOR FIELD IN BRAZIL AND ADVANCES ITS STRATEGIC PARTNERSHIP WITH PETROBRAS TO INCREASE RECOVERY

* SAYS TOTAL CONSIDERATION COMPRISES AN INITIAL PAYMENT OF USD 2.35 BILLION, PLUS ADDITIONAL CONTINGENT PAYMENTS OF UP TO USD 550 MILLION

* ‍TRANSACTION NEARLY TRIPLES STATOIL‘S PRODUCTION IN BRAZIL​

* ‍RONCADOR WAS LARGEST DISCOVERY OFFSHORE BRAZIL IN 1990S AND IS CURRENTLY THIRD LARGEST PRODUCING FIELD IN PETROBRAS’ PORTFOLIO WITH MORE THAN 1 BILLION BARRELS OF OIL EQUIVALENT REMAINING

* ‍AMBITION IS TO INCREASE RECOVERY FACTOR BY AT LEAST 5 PERCENTAGE POINTS​ Source text for Eikon: Further company coverage: (Reporting By Ole Petter Skonnord)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below