Statoil announced late Tuesday that it has acquired Petrobras’ 66 percent operated interest in the BM-S-8 offshore license in Brazil’s Santos basin.
On the completion of the transaction, Statoil has paid Petrobras $1.25 billion, half of the total consideration. The remainder will be paid at the passage of certain future milestones, mainly relating to the future unitization of Carcará.
BM-S-8 contains a substantial part of the Carcará pre-salt oil discovery. Approximately 700 to 1,300 million barrels of oil equivalent recoverable reserves within the license are estimated to be available from Carcará.
Have a news tip? Share it with Rigzone!
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
More from this Author
Most Popular Articles
From the Career Center
Jobs that may interest you