1. Brazil Petrobras keen on BG oil field stakes:report


    * Petrobras has right of first refusal on some BG stakesRIO DE JANEIRO, Oct 14 (Reuters) - Brazilian state-led oil company Petrobras is interested in buying stakes in oil fields held by BG Group if the British oil company decides to sell them, Petrobras’ chief executive said in an interview with a local newspaper published on Friday.Local media last week reported that BG may sell some of its Brazil assets, which include stakes in the giant Lula and Cernambi fields that together hold more than 8 billion barrels of oil and natural gas equivalent, enough to provide all U.S. oil needs for nearly 14 months.Petrobras CEO Jose Sergio Gabrielli said his company would exercise its right to buy up those stakes, though he clarified he did not have any confirmation that a “farm out,” or stake sale, was in the works.”Anything is possible, but if there were a farm-out, yes we would exercise our right” of first refusal, he told newspaper Brasil Economico.A BG spokeswoman said the company does not comment on market rumors.A purchase of the BG stake could add to Petrobras’ already hefty $225 billion five-year investment plan focused on tapping the ultra deep-water area known as the subsalt, an area the size of New York state believed to hold at least 50 billion barrels of oil.BG holds a 25 percent stake in the BM-S-11 block where the Lula and Cernambi fields are located, as well as a 30 percent stake in the BM-S-9 block that holds the Carioca discovery.

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