Finance / Brazil
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StatoilHydro Invests In Brazil And US
March 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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StatoilHydro announced March 4 that it will acquire stakes in deep water and heavy oil projects from US group Anadarko for up to US$2.1bn. Statoil, a Norwegian oil group, will acquire a 50% stake in the Brazilian Peregrino project, giving it 100% working interest, and a 25% stake in the Kaskida discovery in the US Gulf of Mexico. Both deals are subject to government approval and the other partners in the Kaskida discovery have pre-emption rights within 30 days of the announcement.