SAO PAULO, Oct 10 (Reuters) - Brazil’s state-controlled oil company Petroleo Brasileiro SA is forming a joint venture with Murphy Oil Company to explore oil and gas fields in the Gulf of Mexico, the Brazilian company said on Wednesday in a securities filing.
According to the filing, Petrobras, as the Brazilian company is known, will have a 20 percent stake in the joint venture, and Murphy will have 80 percent. Petrobras will receive $1.1 billion in the transaction, the filing added.
Both companies will contribute with all their assets in the Gulf of Mexico for the joint venture, the filing added. (Reporting by Tatiana Bautzer Editing by James Dalgleish)