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Statoil awarded four blocks offshore Brazil

Apr 01, 2018
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Statoil and partners were awarded four blocks in the Campos basin in Brazil’s 15th licensing round.

A consortium comprising Petrobras (30 per cent), ExxonMobil (40 per cent) and Statoil (30 per cent), presented the winning bid for the C-M-657 block in Campos Basin with a signature bonus of US$638,550,000.

The same consortium made up of Petrobras (40 per cent), ExxonMobil (40 per cent) and Statoil (20 per cent), presented the winning bid for the C-M-709 block in the Campos Basin with a signature bonus of US$450,000,000. Both blocks will be operated by Petrobras.

Statoil, together with BP, presented the winning bid for blocks C-M-755 and C-M-793. The signature bonus for both blocks totalled US$26,016,600 (Statoil’s share was 40%). The blocks will be operated by BP.

The blocks are situated in the southern part of the Campos basin, close to our operated position in BM-C-33 (Pão and Gavea), having the potential to capture synergies of scale from existing discoveries and operations in Brazil.

“This award is in line with Statoil’s exploration strategy to build on core positions in prolific and proven basins. Access to new quality acreage is an essential prerequisite for further value creation through exploration activities and for increasing Statoil’s international production level from core areas such as Brazil,” said Tim Dodson, executive vice president for Exploration in Statoil. 

The concession agreements from the 15th licencing round are scheduled to be signed up to 30 November.

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