Statoil Buys into Brazil’s Santos Basin
Statoil completes acquisition and takes over operatorship of Brazilian offshore licence BM-S-8
Statoil and Petrobras have completed their previously announced transaction, whereby Statoil has acquired Petrobras’ 66 percent operated interest of the BM-S-8 offshore license in Brazil’s Santos basin.
BM-S-8 contains a substantial part of the Carcará pre-salt oil discovery.
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.