Norwegian oil group StatoilHydro said on Tuesday it has agreed to buy stakes in two projects from US Anadarko Petroleum Corp for $1.8 billion plus a conditional oil-price related payout of up to $300 million.

The deal will give StatoilHydro the 50 per cent it does not already own in Brazilian project Peregrino and a 25 per cent interest in the Kaskida discovery in the US Gulf of Mexico.-Reuters