Statoil completes acquisition of stake in Santos basin license

Statoil ASA reported completion of a transaction that gives it a 66% stake and operatorship in the BM-S-8 license in the Santos basin offshore Brazil (OGJ Online, July 29, 2016).

The license contains a substantial part of the 2012 Carcara presalt oil discovery.

Statoil said it has paid Petroleo Brasileiro SA (Petrobras) $1.25 billion, “half of the total consideration.” It said the remainder will be paid “at the passage of certain future milestones, mainly relating to the future unitization of Carcara."

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Evolution or Revolution: IT / OT convergence means a world of possibilities

The oil and gas industry is experiencing a rapid paradigm shift in regards to digital transformat...

Predict, Prescribe, Profit: Creating a World that Doesn't Break Down

What are you doing to reduce unplanned downtime at your plant? Equipment breakdowns and process i...

A Traders Guide to Analysis and Research

An e-book dedicated to helping you improve your analysis by looking at RBOB futures performance. ...

Storm Impact Analytics for Utilities

In recent years, increasingly volatile and extreme weather events have significantly impacted the...