July 29, 2016 / 5:26 AM / 2 years ago

BRIEF-Statoil buys Petrobras assets in Carcará oil discovery for $2.5 bln

July 29 (Reuters) -

* Statoil ASA says have agreed that Statoil will acquire Petrobras’ 66 pct operated interest of the BM-S-8 offshore licence in Brazil’s highly prolific Santos basin

* The acquisition includes a substantial part of the Carcará oil discovery, one of the largest discoveries in the world in recent years, which was discovered in 2012

* Statoil estimates the recoverable volumes within the BM-S-8 licence to be in the range of 700 to 1,300 million boe

* In addition to the Carcará discovery, BM-S-8 holds exploration upside that may significantly increase its resource base

* The licence is in its final exploration phase with one remaining exploration commitment well to be drilled by 2018

* Statoil asa says total consideration for acquisition is usd 2.5 billion

* Statoil asa says half of it will be paid upon closing of transaction, with remainder being paid when certain milestones have been met

* Statoil asa says effective date for transaction is 1 July 2016

* Statoil says closing is subject to customary conditions, including partners’ and government approval Source text for Eikon: Further company coverage: (Reporting By Ole Petter Skonnord)

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