Equinor and Barra Energia 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 licences for the Carcará area are fully aligned.
Following Equinor’s closing transaction with Barra, the BM-S-8 partnership was Equinor, 46.5% (operator); ExxonMobil, 36.5%; and Galp, 17%. After completing further transactions with ExxonMobil and Galp, the BM-S-8 fully aligned partnership is Equinor, 40% (operator); ExxonMobil, 40%; and Galp, 20%.