Statoil has completed its $2.5billion deal to buy 66% of an offshore licence in Brazil’s Santos Basin from Petrobras, the Norwegian oil major said yesterday.
Statoil, which announced the acquisition in July, said it had paid half of the fee and that the rest would be transferred once certain milestones are achieved.
The firm said the purchase included a “substantial” part of the Carcará oil discovery, one of the largest discoveries in the world in recent years.
In addition to the Carcará discovery, BM-S-8 holds exploration upside that may significantly increase its resource base.