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(RIA Novosti) -- Russian-British oil joint
venture TNK-BP has bought a 45 percent stake in an oil and gas deposit in Brazil
from local firm HRT O&G for an undisclosed sum, TNK-BP said in a statement
on Monday. "TNK-Brasil, a 100 percent subsidiary of TNK-BP Group, announced
today that it has signed a farm-in agreement and a joint operating agreement
with the Brazilian company HRT O&G. Through the deal TNK-Brasil will acquire
a 45 percent stake in the Solimoes Basin project in Brazil," the firm said.
The 21 oil and gas exploration blocks covering an area of about 48,500
square kilometers are located in the Amazon's Solimoes basin.
"According to a Degolyer & MacNaughton reserves audit report, the
blocks bring TNK-BP a net prospective and contingent resource of 789 million
barrels of oil equivalent (BOEs). These include 11 discoveries where oil and gas
were tested. Initial production from the fields in the Solimoes basin is
expected in 2012," the firm said.
The project will give TNK-BP access to significant new resources in one
of the world’s fastest growing markets, TNK-BP said.
mrcplast.com
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