Statoil buys Queiroz Galvão block in the Santos basin

The participation of 10% in block BM-S-8, in the Santos basin, owned by Queiroz Galvão had sale for Statoil adopted by the Administrative Council for economic Defense (Cade). With the transaction, Norwegian oil company goes to owning 76% of the block, the rest of the participation remains with Petrogal and Power Bar, with 14% and 10%, respectively.

According to report of the Cade, currently the volume of oil and natural gas produced by Statoil in Brazil corresponds to 2% and 1% of the total extracted in the country, namely, the participation has been low in the national markets offshore. Another point highlighted for the approval of the purchase is that the Norwegian company already is senior partner and operator of the block, in this way, little will change the competitive environment.

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