Statoil Confident Brazil Deal To Go Ahead Despite Suspension

Reuters

OSLO, April 18 (Reuters) - Norway's Statoil is confident that its deal with Petróleo Brasileiro SA to acquire a stake in exploration block BM-S-8 offshore Brazil will eventually go ahead despite a court suspension, a spokesman said on Tuesday.

"We are confident that he deal will go ahead... We are considering various legal options, but we are confident that we have a strong case," Statoil's spokesman Erik Haaland said.

A Brazilian court has ordered the state-controlled company, known as Petrobras, to suspend the sale of its stake in the block to Statoil after a union argued there should have been an open bidding process.

(Reporting by Nerijus Adomaitis, editing by Terje Solsvik)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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