MELBOURNE, Australia--Oil-and-gas explorer Karoon Gas Australia Ltd. (KAR.AU) has struck a deal to tie-up with an energy company controlled by Russian billionaire Mikhail Fridman to consider buying assets in selected areas off Brazil. Continue Reading BelowIn a statement Monday, the Australian company said it had entered agreements with German oil-and-gas company Dea to evaluate jointly bidding for assets. Having such a "high quality, well-capitalized partner" would significantly assist Karoon in its ambitions to buy oil production in Brazil, Karoon Managing Director Robert Hosking said. Commercial terms for any acquisitions would be agreed and finalized at the appropriate time, Karoon said. Mr. Fridman's L1 Energy, formed to invest heavily in energy assets around the world, bought Dea from German utility RWE AG (RWE.XE) in 2015.

Source: Wall Street Journal July 31, 2017 00:56 UTC