Statoil increases presence in the Santos basin

Statoil bought 10% stake in block BM-S-8, in the Santos basin, which was owned by Queiroz Galvão. The transaction was approved by that, according to the Administrative Council for economic Defense (Cade), the company has a small role in the domestic market and the percentage little would change the competitive Brazilian offshore environment. Norwegian oil company now owning 76% of the block. The remainder of the contribution remains with Petrogal and Power Bar, with 14% and 10%, respectively.

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