Statoil Completes Acquisition of Offshore License BM-S-8

Source: www.gulfoilandgas.com 11/22/2016, Location: South America

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 Carcara 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 Carcara.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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