Rosneft Brasil is set to acquire PetroRio’s 55% in the Solimões project. The closing will follow formal approval of the transaction by Agencia Nacional do Petroleo, which is anticipated in mid-2015. The transaction completes agreements reached between Rosneft and HRT during July 2014.
The transaction will result in Rosneft being the sole operator of the Solimões project. The transaction totaled US$55 million.
The acquisition of the remaining interest in the Solimões project will allow Rosneft to continue exploration programs in frontier areas while advancing joint work with Petrobras on the monetization of proven gas resources.
Image: Rosneft Logo / Rosneft