Deal insight

Statoil acquires Brazilian pre-salt discovery from Petrobras for US$2.5 billion

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Report summary

On 29 July 2016 Statoil announced that it will acquire Petrobras' 66% operating interest in the BM S 8 block offshore Brazil for a nominal consideration of US$2.5 billion. The transaction includes a portion of the Carcará oil discovery which extends beyond BM S 8 into open acreage and the Guanxuma prospect located in the western portion of the block. This is the Brazilian NOC's largest ever single asset sale and its first in the highly productive pre salt area. Petrobras offloads one of the most technically challenging projects in its portfolio freeing resources to focus on its core cash generating assets. The materiality of Carcará demonstrates that the company and Brazilian government are serious about de leveraging Petrobras' highly indebted balance sheet. For Statoil the deal substantially strengthens its post 2020 production growth potential.

What's included

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  • Document

    Statoil acquires Brazilian pre-salt discovery from Petrobras for US$2.5 billion

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Table of contents

  • Executive summary
  • Transaction details
  • Upstream assets
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 7 images and tables including:

Tables

  • Executive summary: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Upstream assets: Table 1

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