Statoil will acquire a non-operated 25% interest in the offshore Roncador field in Brazil for a nominal consideration of US$2.9 billion. US$2.35 billion will be paid on deal closing. In addition, Statoil will carry Petrobras investments in the field for up to US$550 million in IOR applications. We expect these investments to occur in 2019 and 2020, equating to a real consideration of US$2.84 billion. Statoil has also secured access to onshore gas processing capacity for its BM-C-33 operated project in the Cabiunas terminal. Petrobras and Statoil announced remaining recoverable volumes of 1 bnboe, but the two companies expect to increase the recovery factor by 5%, producing additional 500 mmboe, through technical cooperation on IOR and infill drilling. Using the asset phase functionality from our Global Economic Model (GEM) tool, we have valued both the initial volumes, and expected incremental recovery.