Current STO Stock Info

Statoil ASA (ticker: STO) and Petroleo Brasileiro S.A. – Petrobras (ticker: PBR) 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. Total consideration comprises an initial payment of $2.35 billion, plus additional contingent payments of up to $550 million.

Statoil CEO Eldar Sætre together with Petrobras CEO Pedro Parente signing the Roncador contract Courtesy of Ole Jorgen Bratland/Statoil

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