ANP approves Carcara sale to Statoil
Brazilian regulator signs off on Petrobras’ sale of 66% stake in offshore Block BM-S-8
The Brazilian National Petroleum Agency (ANP) has approved the sale by Petrobras of a 66% stake in Block BM-S-8 to Norwegian oil company Statoil, clearing the last hurdle for the transfer of ownership.
The $2.5 billion deal, announced in July, gives Statoil operating control of the giant Carcara pre-salt discovery, which is estimated to hold recoverable volumes of between 700 million and 1.3 billion barrels of oil equivalent.
Statoil has until March 2018 to file the Carcara declaration of commerciality.
In a recent conference call with investors, Statoil predicted production from Carcara would begin in the middle of next decade.
Separately, the ANP has sanctioned the sale by Engie of minority interests of 35% at two exploration blocks to Parnaiba Gas Natural (PGN) in the onshore Parnaiba basin.
PGN is now the sole owner of blocks PN-T-101 and PN-T-103. The sale is part of Engie’s strategy to sell off its exploration and production assets worldwide to focus on renewable energy resources.
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