Deals
Sinochem in Talks to Sell Stake in Brazil Oil Field, Sources Say
- Chinese company in talks with Prio to sell its 40% holding
- Norway’s Equinor is the majority owner of 110,000 b/d field
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Sinochem Group Co. is in talks to sell a minority stake in the Peregrino oil and gas field off the coast of Brazil to independent producer Prio SA, according to people familiar to the matter.
The Chinese energy and chemicals group is working with Jefferies Financial Group Inc. on a potential sale of its 40% share of the offshore field near Rio de Janeiro, said the people, who asked not to be identified because the discussions are private. Sinochem paid $3.07 billion for it in 2011.