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Publish Date : 31-Oct-2017

Statoil Brasil Oleo e Gas Ltd., an arm y of Statoil ASA, ExxonMobil Exploracao Brasil Ltda., a unit of ExxonMobil Corporation, and PETROGAL BRASIL, SA, a subsidiary of Galp, have been announced as the high bidders for a production sharing contract (PSC) for the Carcar North Block in Brazils second pre-salt offshore licensing round that took place on Oct. 27.

The group made up of Statoil (operator, 40%), ExxonMobil (40%) and Galp (20%) submitted the winning bid (67.12% of profit oil) for the Carcar North Block in the Santos basin.

The pre-determined signature bonus to be paid by the group is BRL 3.0 billion (nearly $910 million). Statoil'share amounts to $364 million.

Statoil, ExxonMobil and Galp have also agreed several subsequent transactions in the adjacent BM-S-8 Block to align equity stakes across the two blocks that together comprise the Carcara oil discovery.

The aggregate total potential consideration that Statoil will receive in these deals is around $1.55 billion and, following the licensing round, the potential net cash inflow to Statoil is around $1.19 billion.

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