Statoil ASA reported completion of a transaction that gives it a 66% stake and operatorship in the BM-S-8 license in the Santos basin offshore Brazil (OGJ Online, July 29, 2016).

The license contains a substantial part of the 2012 Carcara presalt oil discovery.

Statoil said it has paid Petroleo Brasileiro SA (Petrobras) $1.25 billion, “half of the total consideration.” It said the remainder will be paid “at the passage of certain future milestones, mainly relating to the future unitization of Carcara."