Statoil strengthens grip on Carcará area license offshore Brazil
Statoil has signed an agreement to acquire Queiroz Galvão Exploração e Produção’s 10% interest in the BM-S-8 license in the Santos basin offshore Brazil for $379 million.
This will lift Statoil’s operated interest in the license to 76%.
BM-S-8 includes a large part of the Carcará 30° API oil discovery, with associated gas. Statoil estimates recoverable volumes on the license in the range of 700-1,300 MMboe.