Offshore staff
OSLO, Norway – Equinor and its partners in the Carcará North block offshore Brazil, ExxonMobil and Galp, have closed transactions in neighboring block BM-S-8 announced late last year.
These involved Equinor selling a 36.5% interest in BM-S-8 to ExxonMobil and 3% to Galp, in exchange for payments totaling around $955 million, with a further $595 million contingent on future milestones.
Both Equinor (operator) and ExxonMobil now have 36.5% stakes in the block, while Galp has 17% and Barra Energia,10%.
Anders Opedal, Equinor’s Brazil country manager, said: “Our focus is to clarify the resource potential for the entire Carcará area and to mature a field development with an ambition to deliver first oil from the unitized field between 2023 and 2024.”
The company estimates the entire structure (across BM-S-8 and Carcará North) holds more than 2 Bboe recoverable, with upside potential in, for instance, the Guanxuma prospect elsewhere on BM-S-8, where drilling started in late April.
“The Carcará oil field is an excellent example of the quality resources to be found offshore Brazil,” said Brad Corson, president of ExxonMobil Upstream Ventures. “We’ll be working with our partners to explore and develop these shared blocks, and contributing our deepwater technology and expertise to further enhance the value of this world-class resource.”
06/06/2018
