Equinor compra a participação da Carcara na Barra por US $ 370 milhões

Equinor Acquires Carcara’s Stake in Barra for $370 Million

Written by Paulo Nogueira

Published on 04/07/2018 at 04:39

Updated on 04/07/2018 at 08:26

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Norway’s Equinor Will Buy a Ten Percent Stake in Barra Energia’s License BM-S-8 in the Santos Basin off Brazil’s Coast.

Equinor said on Wednesday that the acquisition will allow “Equinor and its partners to fully align the interests of the two licenses in the Carcará area.” In early June, Equinor, ExxonMobil, and Galp completed transactions in BM-S-8 to start aligning their ownership stakes with those held by the three partners in the adjacent Carcará North block. BM-S-8 and Carcará North together make up the area that contains approximately 2 billion recoverable barrels of oil equivalent.

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CEO Renato Bertani (left), Barra Energia and Anders Opedal, Equinor Manager in Brazil

Equinor is the operator of both blocks and aims to develop the unitized field with the ambition of delivering first oil between 2023 and 2024. Equinor said it would pay US$ 370 million for Barra’s 10% stake, the same amount paid by Queiroz Galvão Exploração e Produção (QGEP) in July 2017.

The closing is subject to usual conditions, including partner and government approval, and price adjustments considering a reference date of July 2016. After closing, Equinor intends to sell 3.5% to ExxonMobil and 3% to Galp, fully aligning interests across BM-S-8 and Carcará North.

In June, Equinor (or Statoil) made Petrobras sell 25% of Roncador to it, sparking the fury of state advocates and unionists. The state-owned company claims that the sale of its assets or part of them is part of the plans to restructure the company, especially financially, and the most effective way to do this right now is through partnerships. It is remarkable how many assets foreign companies have been acquiring in Brazil since our market opened, but would you like to know why our oil reserves attract so many multinationals? Check out the explanation in this other article here.

Equinor Acquires Carcara’s Stake in Barra for $370 Million

Norway’s Equinor Will Buy a Ten Percent Stake in Barra Energia’s License BM-S-8 in the Santos Basin off Brazil’s Coast.

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