HRT picks up Maersk Oil asset

HRT picks up Maersk Oil asset

M&A

Brazil’s HRT O&G Exploracao e Producao has agreed to buy 40% of the Polvo oil field from Maersk Oil, which announced a heavy write-down on a group of oil fields on Tuesday. Maersk Oil took a $1.7bn impairment on the book value of its Brazilian assets, leaving the value at $600m, it said. The company has changed direction in Brazil, and is longer pursuing “growth or operatorship” in the country, it said. The divestment in Polvo to HRT was part of the new strategy. The price of the acquisition, wh

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