|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Brazil (Click here for more)

Norway’s Statoil Buys 25% Stake in Brazil’s Huge Roncador Field

RIO DE JANEIRO – Norway’s Statoil said it acquired a 25 percent interest in Brazil’s huge Roncador field, located in the Campos Basin, for $2.9 billion under an agreement with Brazilian state-controlled oil giant Petrobras.

“This transaction adds material and attractive long-term production to our international portfolio, further strengthening the position of Brazil as a core area for Statoil. We are also pleased to advance our strategic partnership with Petrobras by expanding our technical collaboration, sharing technology, competence and experience to increase oil and gas recovery,” Statoil president and CEO Eldar Sætre said in a statement.

Roncador, an offshore field discovered in the 1990s, is Petrobras’s No. 3 oil field in terms of production.

“Strategic partnerships are an important part of our business plan and Statoil’s knowledge and experience in increasing the level of oil recovery in mature fields will add value not only to our joint operations in Roncador, but to other mature fields in the Campos Basin, with huge potential to positively impact future production in the area,” Petrobras CEO Pedro Parente said.

Roncador, which started operating in 1999, produced 240,000 barrels per day (bpd) of oil last month.

The giant field, whose reserves are estimated at 10 billion barrels of oil equivalent (boe), also produced about 40,000 boe per day of natural gas in November.

“Petrobras and Statoil are partners in 13 areas in either the exploration or production phase, 10 of which are located in Brazil and three abroad. The acquisition will strengthen Statoil as one of the biggest oil producers in Brazil, operating the Peregrino field and block BM-C-33, both in the Campos Basin, and the BM-S-8 block in the Santos Basin,” the Norwegian oil company said.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2018 © All rights reserved