Saturday, 18 January 2020

Finance News

Equinor and Partners Fully Align Interests in Carcará Oil Discovery

Equinor and Barra Energia (“Barra”) have completed their transaction announced on 4 July 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 USD 379 million.

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

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

 BM-S-8 (after closing of transaction with Barra)BM-S-8 (after closing of transactions with ExxonMobil and Galp)Carcará North
Equinor 46.5% (operator) 40% (operator) 40% (operator)
ExxonMobil 36.5% 40% 40%
Galp 17% 20% 20%

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