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


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...