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% operated interest of the BM-S-8 offshore licence 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 USD 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 unitisation of Carcará.

	Location	Interest	Status
Peregrino	Campos-basin	60% (operator)	Production in 3Q 2016 was 69,500 barrels a day Reserves of 300-600 million barrels of oil
Peregrino Phase II	Campos-basin	60% (operator)	Construction Production from 2020 at c. 60,000 barrels a day Reserves ~255 million barrels of oil
Licence BM-C-33 comprising the Pão de Açúcar, Gavea and Seat discoveries	Campos-basin	35% (operator)	Evaluation/development Approximately 1bn boe in recoverable resources
Licence BM-S-8 comprising the Carcará discovery and exploration prospects	Santos-basin	66 % (operator)	Evaluation/development, pre-unitisation Approximately 700 to 1,300 million boe recoverable resources within the licence from Carcará, plus additional exploration upside
Eight exploration blocks	Espírito Santo-basin	Four operated by Statoil, four by Petrobras	Exploration

Statoil's activities in Brazil

Statoil acquires operated interest in Brazilian offshore licence containing a substantial part of the Carcará pre-salt oil discovery

Statoil completes acquisition and takes over operatorship of Brazilian offshore licence BM-S-8

Related pages