Equity production from offshore Brazil more than doubles after the completion of an acquisition in the Campos oil basin, Norwegian company Equinor said. Equinor, formerly known as Statoil, said Friday it completed a transaction with Brazilian company Petróleo Brasileiro, or Petrobras, for a 25 percent stake in the Roncador oil field in the Campos basin off the Brazilian coast. Announced in December, the $2 billion deal included $550 million in contingent payments for projects meant to boost field recovery. Through the deal, Equinor increases its equity production in Brazil from around 40,000 barrels of oil equivalent per day to around 100,000 boe per day. “The collaboration between the two companies will enable us to extend the productive life of the field, which will result […]