Statoil has completed its acquisition of Petrobras’ 66% operated interest in the BM-S-8 offshore license in Brazil’s Santos basin.

The license contains a substantial part of the Carcará pre-salt oil discovery.

Upon completion of the transaction, Statoil paid Petrobras $1.25 billion, half of the total consideration. The remainder will be paid at the passage of certain future milestones, mainly relating to the future unitization of Carcará.

Source: www.worldoil.com