Braspetro acquired Colombia's Lasmo Oil

Sep 28, 1998 02:00 AM

Aug. 7, 1998 Braspetro, Petrobras' subsidiary for foreign businesses, has recently acquired Colombia's Lasmo Oil from Lasmo PLC for $ 150 mm. Lasmo Oil presently produces 13,000 bpd, but its production will be lifted to 20,000 bpd by the year 2000. Braspetro's oil production in Colombia is estimated at 20,000 bpd, of which 13,000 produced by its partners.

In order to grow its business abroad, Petrobras acquired South Australian North Territorian Oil Services (Santos) for $ 80 mm during the first semester of 1998.

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