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.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/23112016/statoil-completes-acquisition-of-brazilian-offshore-licence-bm-s-8/