V&E Reps PetroChina In $2.6B Deal For Petrobras Peru Assets

Law360, New York (November 13, 2013, 4:40 PM EST) -- State-owned China National Petroleum Corp. on Wednesday agreed to pay $2.6 billion for Petroleo Brasileiro SA's oil and gas assets in Peru, continuing the Chinese government's push into Latin America energy markets and Petrobras' divestment of noncore assets.

PetroChina Co. Ltd., the listed arm of CNPC, said it would acquire all the shares of Petrobras Energia Peru SA, which owns all or part of three blocks of oil and gas fields in Peru. The blocks have sizeable recoverable reserves, and are currently producing 800,000 metric tons...
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