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China want to invest US$ 3 Billion in brazilian oil field.

CNOOC spokesman

China’s biggest offshore energy explorer CNOOC, and Sinochem Group may separately bid as much as $3 billion for a 40 percent stake in a Brazilian oil field owned by Norway’s  Statoil ASA, two people with knowledge of the companies’ plans said to Bloomberg.

The stake in the Peregrino field off the Brazilian coast may fetch $2.5 billion to $3 billion, the people said, asking not to be identified because the process is confidential. Statoil, Norway’s largest oil and gas producer, has told potential buyers to tender an offer by today, they said.

Chief Financial Officer Eidar Saetre said in November that Statoil is considering cutting its stake in Peregrino to reduce risk and build funds for the development of other projects.READ MORE HERE.