Statoil has completed a deal with Queiroz Galvão Exploração e Produção (QGEP) to acquire a 10% interest a block offshore Brazil containing the Carcará oil discovery.
The BM-S-8 block is in Brazil’s Santos basin and the 10% was acquired by Statoil for US$379 million.
Following the completion of the deal, Statoil and its partners in the Carcará North block, ExxonMobil and Galp, will now undertake two further transactions, as previously announced on 27 October 2017.
Statoil will divest a 3.5% interest in BM-S-8 to ExxonMobil, and a 3% interest to Galp, on terms equivalent to those of the QGEP transaction.
The closing of these further transactions is subject to certain conditions, including government approvals.
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