Equinor builds stake in Carcará area offshore Brazil

Equinor has agreed to pay $379 million for Barra Energia’s 10% interest in the BM-S-8 license in the Santos basin offshore Brazil.

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

Offshore staff

STAVANGER, Norway – Equinor has agreed to pay $379 million for Barra Energia’s 10% interest in the BM-S-8 license in the Santos basin offshore Brazil.

The transaction will enable Equinor and its partners to fully align their interests across the two licenses over theCarcará area.

Last month, the company and ExxonMobil and Galp concluded their alignment process for BM-S-8 and the adjacentCarcará North block.

Equinor, which operates both blocks, estimates reserves in the Carcará area at around 2 Bboe recoverable. It aims to develop the unitized field and deliver first oil during 2023-2024.

BM-S-8 (before transaction with Barra)

BM-S-8 (after closing of transaction with Barra)

BM-S-8 (after future transactions with ExxonMobil and Galp)

Carcará North

Equinor

36.5% (operator)

46.5% (operator)

40% (operator)

40% (operator)

ExxonMobil

36.5%

36.5%

40%

40%

Galp

17%

17%

20%

20%

Barra Energia

10%

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07/05/2018

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