Statoil announced it is to acquire a 66% stake in a Brazil offshore licence from Petrobras for $2.5bn. The acquisition includes a substantial part of the Carcará oil discovery, one of the largest discoveries in the world in recent years. Statoil estimates the recoverable volumes within the BM-S-8 licence to be in the range of 0.7bn to 1.3bn barrels of oil. In addition to the Carcará discovery, BM-S-8 holds an exploration upside that may significantly increase its resource base.
29 Jul 2016
Acquisition in Brazil
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Acquisition in Brazil
Statoil announced it is to acquire a 66% stake in a Brazil offshore licence from Petrobras for $2.5bn. The acquisition includes a substantial part of the Carcará oil discovery, one of the largest discoveries in the world in recent years. Statoil estimates the recoverable volumes within the BM-S-8 licence to be in the range of 0.7bn to 1.3bn barrels of oil. In addition to the Carcará discovery, BM-S-8 holds an exploration upside that may significantly increase its resource base.