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Statoil invests $2.9 billion in Petrobras oil field

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Staff Writer | December 19, 2017
Campos Basin
Acquisition   Statoil almost tripled its production in Brazil

Statoil announced an agreement with Petrobras to acquire a 25 percent stake in Roncador, a large oil field in the Campos Basin off the coast of Brazil, for up to $2.9 billion.

Statoil, a multinational oil and gas company in which the government of Norway is the largest shareholder, almost tripled its production in the South American country through the transaction.

Linhua Guan, chairman of Star Energy and former president of Statoil Technology Services in Beijing, said the investment demonstrates Statoil's ability to leverage its technology competence developed on the Norwegian continental shelf to create value for its shareholders.

Petrobras is a publicly held Brazilian multinational corporation in the petroleum industry headquartered in Rio de Janeiro, Brazil.

The company is operating on an integrated basis and specializing in the oil, natural gas and energy industry.

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