May 30, 2019
The National Petroleum Agency (ANP) approved, during the meeting of its board of directors, the transfer of a 10% participation of Barra Energia to Equinor in the block BM-S-8, in the Santos basin, where it is located the area of Carcará.
The transaction was announced last year and will involve the payment of $ 379 million by Equinor. Following the closure of the agreement, Equinor intends to sell a 3.5% stake to ExxonMobil and a 3% stake to Galp.
Thus, the composition of the consortium will be: Equinor (40% and operator), ExxonMobil (40%) and Galp (20%). The BM-S-8 block and North Carcará together comprise the Carcará area, which contains approximately 2 billion barrels of recoverable oil equivalent. Equinor intends to reach the first oil of the project between 2023 and 2024