Equinor closes Carcara deal in Brazil

Norwegian oil and gas company Equinor and its partners have fully aligned their interests in the Carcará oil discovery, which is located offshore Brazil.

Equinor and Barra Energia have completed their transaction announced on July 4, 2018, whereby Equinor has acquired Barra’s 10% interest in the BM-S-8 block in Brazil’s Santos basin for a total consideration of $379 million.

Upon the completion of this transaction, Equinor, ExxonMobil, and Galp have also completed the two further transactions previously announced on July 4 on terms equivalent to those for the Barra transaction.

Namely, in early June 2018, Equinor, ExxonMobil, and Galp completed transactions in BM-S-8 to start aligning equity interests with those the three partners hold in the adjacent Carcará North block.

BM-S-8 and Carcará North together comprise the Carcará area, which contains approximately 2 billion recoverable barrels of oil equivalent. Equinor is the operator of both blocks and aims to develop the unitised field with the ambition to deliver first oil between 2023 and 2024.

In addition, Equinor said last year that, after buying Barra’s 10% interest, it intended to sell down 3.5% to ExxonMobil and 3% to Galp.

As a result, Equinor’s and its partners’ interests across the two licenses for the Carcará area are now fully aligned.


Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.

Offshore Energy Today, established in 2010, is read by over 10,000 industry professionals daily. We had nearly 9 million page views in 2018, with 2.4 million new users. This makes us one of the world’s most attractive online platforms in the space of offshore oil and gas and allows our partners to get maximum exposure for their online campaigns. 

If you’re interested in showcasing your company, product or technology on Offshore Energy Today contact our marketing manager Mirza Duran for advertising options.

Share this article

Follow Offshore Energy Today

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

8th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Gas Indonesia Summit 2019

Gas Indonesia Summit & Exhibition is returning for the fourth edition in Jakarta…

read more >

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply