Petrobras to buy Noble's Argentine assets

By OGJ editors
HOUSTON, Dec. 28 -- A subsidiary of Petroleo Brasileiro SA (Petrobras) agreed to buy Noble Energy Inc.'s interest in El Tordillo, La Tapera, and Puesto Quiroga licenses in southern Argentina for $117.5 million.

The sale, subject to regulatory and partner approvals, is expected to close in 2008. Noble Pres. Charles D. Davidson said the sale is part of the company's strategy to divest noncore assets.

Production net to Noble from the assets being sold averaged 2,850 b/d of oil during the third quarter.

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