CNOOC Ltd (中國海洋石油), China’s biggest offshore energy explorer, and Sinochem Group (中國中化) may bid US$3 billion for a 40 percent stake in a Brazilian oil field owned by Norway’s Statoil ASA, two people with knowledge of the companies’ plans said.
The stake in the Peregrino field off the Brazilian coast may fetch between US$2.5 billion and US$3 billion, sources said asking not to be identified because of the confidential nature of the process. Statoil, Norway’s largest oil and gas producer has told potential buyers to tender an offer by today, they said.
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Statoil’s Chief Financial Officer Eldar Saetre said in November that the company was considering cutting its stake in Peregrino to reduce risk and accumulate funds for the development of other projects.
The Stavanger-based company, which has operations in 40 countries, took control of the oilfield in March 2008 after acquiring the remaining 50 percent from Anadarko Petroleum Corp.
Statoil is targetting crude oil output at Peregrino early next year when it will also start drilling wells. The field, 85km off the coast of Rio de Janeiro, has an estimated 460 million barrels of recoverable oil, company spokeswoman Mari Dotterud said on Oct. 20.
Statoil, which has operating rights on about 80 percent of Norway’s oil and gas production, is expanding abroad to counter dwindling North Sea reserves. The company is 67 percent owned by the Norwegian government.
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