Rosneft gets Brazil’s approval for full control of Solimoes project
MOSCOW -- Rosneft Brasil—a wholly owned subsidiary of Rosneft—and PetroRio have received approval from Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP) for Rosneft Brasil to acquire an additional 55% interest in the Solimoes project.
Under the agreement, the final completion date of the purchase and transaction will be agreed between PetroRio and Rosneft Brasil and is expect to occur within 30 days, Rosneft said in a statement released Monday.
The finalization of the transaction will lead to Rosneft Brasil receiving 100% control and full operatorship of the Solimões project.
