Statoil Completes Acquisition 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


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 reserves
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 reserves within the licence from Carcará, plus additional exploration upside
Eight exploration blocks Espírito Santo-basin Four operated by Statoil, four by Petrobras Exploration

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