SINOCHEM buys a 40% stake in Statoil's Peregrino field
Sinochem has announced the acquisition of a 40% stake in Statoil's Peregrino field for a consideration of US$3.07 billion. Following completion of the deal, Statoil will retain a 60% stake and operatorship of the field, located in the shallow waters of Brazil's Campos Basin. The deal represents Sinochem's second major acquisition in the Latin America region following on from its acquisition of Emerald Energy in October 2009. This latest deal marks Sinochem's entry to ...