Statoil will pay $2.5 billion for the 66% operated stake in Block BM-S-8, with half being paid when the deal closes and the remainder to be paid as certain milestones are met.
“Through this acquisition we are accessing a world class asset, and we strengthen our position in Brazil, one of Statoil’s core areas due to its large resource base and excellent fit with our technology and capabilities,” Statoil chief executive Eldar Saetre said.
“The
