Statoil bets big on Brazilian oil

Statoil has great ambitions for Brazil where the company has now bought a bigger stake in field Caraca. In the long term, Statoil wants to achieve a daily output of around 700,000 barrels per day in Brazil, reports Dagens Næringsliv.

Photo: Ricardo Stuckert/AP/Polfoto/Arkiv

Norwegian oil major Statoil wants to increase its production in Brazil big-time in the coming decade, reports Dagens Næringsliv.

The news comes after Statoil has acquired another ten percent of a discovery named Caraca. The company now owns 76 percent of the field after having bought out Brazilian oil major Petrobras for NOK 2.5 billion (USD 305.8 million) last year.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

HitecVision closes first green transition fund

Nordic pension funds are among the investors in the first private equity fund targeting the green transition launched by Norway's largest private equity firm, which has been focusing on the offshore energy industry for more than 30 years.

Further reading

Related articles

Latest News

See all jobs