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.

BM-S-8 license in the Santos basin offshore Brazil
BM-S-8 license in the Santos basin offshore Brazil

Offshore staff

STAVANGER, Norway – Statoil has signed an agreement to acquire Queiroz Galvão Exploração e Produção’s (QGEP) 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.

Petrobras had earlier transferred its operating interest to Statoil, which is hoping to obtain operatorship of the unitized Carcará field.

07/12/2017

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