Norwegian energy giant Statoil expects to complete the purchase of a stake in a block offshore Brazil, despite a court suspending the deal, according to a news report.
The court told Petrobras to suspend the sale of its 66% stake in BM-S-8 after a union complained that an open bidding process had not been held, Reuters reported.
A Statoil spokesman said the firm was “considering various legal options” but was confident its case was strong and that the deal would go through.
State-owned Petrobras said it would take legal action to defend its interests, according to the report.
Petrobras intended to sell the asset as part of a $21billion divestment plan initiated to help pay off its debts.