Many reports indicate that four Chinese companies will be placing their bids for a 40% stake in a field off Brazil, being offered by the Norwegian giant Statoil.

A source with direct knowledge of the sale named one of the companies as China National Offshore Oil Corporation (CNOOC), he added it was a shallow offshore field with a water depth of about 100 meters, said the source to Reuters.

Statoil did not make any comments on the rumors, but previously stated that it could cut its 100% stake in its Peregrino field, which matches that description. A CNOOC spokesman also declined to comment.