The closing of the transaction between Rosneft Brasil, a subsidiary of Rosneft, and PetroRio has become possible after receiving approval from the National Agency of oil, natural gas and biofuels of Brazil. Transaction volume totaled $ 55 million.
MOSCOW, 13 Oct. Rosneft Brasil, a subsidiary of Rosneft, has closed a deal to PetroRio acquisition of the 55% equity in the project Solimões in Brazil, is spoken in the message of the Russian company.
As a result of the closing of the deal Rosneft Brasil acquired control over 100% of the shares and the status of the project operator for the development of hydrocarbons in the solimões basin in the Amazon region.
The closing of the transaction became possible after the approval by the National Agency of oil, natural gas and biofuels of Brazil (Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis, ANP) in July 2015 and the implementation of a number of mandatory conditions by the parties to the transaction.
Transaction volume totaled $ 55 million.
The closing of the transaction will allow Rosneft Brasil to continue the exploration to detect promising oil deposits, and progress in implementing the joint project with Petrobras, aiming at studying the possibilities of monetization of natural gas reserves. Rosneft Brasil starts operations planning, which should begin before the end of 2015.
“Participation in the solimões project allows Rosneft to strengthen its position in Brazil, a country with promising growth opportunities in the field of hydrocarbon production. In addition, the project Solimões provides a synergistic effect with Venezuelan projects of “Rosneft”, — stated in the message.