Buying interest: People walk past a model of CNOOC oil production and storage platform at a trade fair. Petrobras announced CNOOC’s interest in increasing its Buzios stake in a securities filing. — Reuters
SAO PAULO: Chinese oil and gas firm CNOOC Ltd wants to exercise an option and acquire an additional 5% stake in production rights for the Buzios oilfield for US$2.08bil (RM8.71bil), according to the oilfield’s owner, Brazil’s Petrobras.
Petroleo Brasileiro SA, as Petrobras is formally known, holds 90% of the rights to explore and produce oil at Brazil’s Buzios, considered the largest deepwater oilfield in the world, which the state-run oil company acquired in 2019.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
