Statoil and Petrobras have agreed that Statoil will acquire a 25% interest in Roncador, a large oil field in the Campos Basin in Brazil.
The transaction nearly triples Statoil’s production in Brazil, with attractive break-evens and potential for additional value creation for both parties through the application of Statoil’s expertise in improved oil recovery (IOR), the Norwegian company said on Monday.
The total consideration comprises an initial payment of $2.35 billion, plus additional contingent payments of up to $550 million.
Brazil Energy Insight 
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