AlwaysFree: China's CNOOC Pays Petrobras $1.9 Bln For Production Sharing Deal At Brazil's Buzios Field

According to Reuters article published on November 25, 2022, Brazil's state oil firm Petrobras said on Thursday it received 10.3 billion reais ($1.9 billion) from Chinese oil and gas major CNOOC (0883.HK), a payment for a 5% stake in a production sharing agreement at the Buzios oil field.

With this transaction, Petrobras said it will hold an 85% stake while CNOOC's Brazilian unit CBPL will hold 10% and the CNODC Brasil Petroleo e Gas (CNODC) will hold 5%.

Petrobras will hold a 88.99% stake in the Buzios shared deposit, while CBPL will hold 7.34% and CNODC 3.67%, it said it a securities filing.

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