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Statoil completes acquisition of Brazilian offshore licence BM-S-8

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Oilfield Technology,

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 US$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.

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