A transaction between Statoil and Petrobras that could be worth up to $2.9 billion will likely be scrutinized by Brazil’s Federal Court of Accounts (TCU), the CEO of Petrobras said on Monday.

A tank of Brazil’s state-run Petrobras oil company is seen in Brasilia, Brazil, August 31, 2017. Photo: Ueslei Marcelino/Reuters

“It may be delayed a bit, but it will not stop the process,” Pedro Parente told reporters.

Statoil agreed to buy a 25-percent stake in Roncador, one of the country’s largest oilfields on Monday. The transaction will take effect from Jan. 1 and is subject to approval in Brazil.