Statoil has received approval from Brazil’s regulators to acquire a stake in an offshore concession from Vale, the Norwegian company said in a statement.
Th approval allows Statoil to acquire 25 percent of the BM-ES-22A concession, which contains two blocks in the Espírito Santo basin offshore Brazil.
The location of the concession is near several other blocks where Statoil already operates.
The BM-ES-22A block is operate by Petrobras, which holds the remaining 75 percent.
