Statoil Acquires Petrobras' Operated Interest in BM-S-8 Offshore Brazil

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. 



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