Statoil: strengthens presence in Brazilian offshore.
(CercleFinance.com) - Statoil has acquired the 10% stake which Queiroz Galvão Exploração e Produção (QGEP) held in the BM-S-8 license, which is located in the Santos basin, off the coast of Brazil.
It bought this stake for 379 million dollars, or just over 330 million euros.
Under the terms of the agreement, half of this amount will be paid upon completion of the transaction, with the remaining half to be paid subsequently under specific conditions.
After this deal, the share held by the Norwegian major oil-gas company in BM-S-8 will rise from 66% to 76%.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
It bought this stake for 379 million dollars, or just over 330 million euros.
Under the terms of the agreement, half of this amount will be paid upon completion of the transaction, with the remaining half to be paid subsequently under specific conditions.
After this deal, the share held by the Norwegian major oil-gas company in BM-S-8 will rise from 66% to 76%.
Copyright (c) 2017 CercleFinance.com. All rights reserved.