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Anglo-Russian Oil Venture in $1B Deal

By Sarah de Sainte Croix, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – At the end of last month TNK-Brasil (a Brazilian subsidiary of the Anglo-Russian oil company TNK-BP) signed a farm-in agreement with the Brazilian independent oil company HRT O&G. The arrangement grants TNK-Brasil a 45 percent stake in the Solimões Basin Project in the Brazilian Amazon in exchange for US$1 billion. The deal marks the British-Russian group’s first foray into Brazil’s rapidly

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