Statoil Gets Nod To Take Vale's Stake In Brazil Blocks

Reuters

OSLO, March 28 (Reuters) - Brazil has approved Norwegian oil and gas firm Statoil's acquisition of a stake in an offshore oil concession from mining giant Vale, Statoil said on Friday.

With the approval, Statoil will acquire 25 percent of the BM-ES-22A concession, which consists of two blocks in the Espírito Santo basin offshore Brazil, near several other blocks where Statoil is either operator or partner.

The block is operate by Petrobras, which will hold the remaining 75 percent.

(Reporting by Balazs Koranyi, editing by Terje Solsvik)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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