• Upstream
  • Pipelines & Transport
  • Downstream
Tuesday, October 7, 2025
Oil&Gas Advancement
  • Home
  • News
    U.S. Crude Oil Exports

    U.S. Crude Oil Exports Hit Highest Mark Since February 2024

    Natural Gas to China at Lower Prices

    Russia Indicates Natural Gas to China at Lower Prices

    First Oil Production

    U.S. Gulf Achieves First Oil Production Milestone

    Tamboran to acquire Falcon Oil Gas

    Tamboran to Acquire Falcon Oil & Gas in Australia

    Subsea Production Systems

    TechnipFMC Gets Petrobras Subsea Production Systems Deal

    Energy Security of the UK

    £830mn Gas Storage Project for Energy Security of the UK

    Frontier Exploration to Grow

    Global Oil And Gas Majors Push Frontier Exploration to Grow

    Nitzana Natural Gas Pipeline

    Chevron & Israel Team to Build Nitzana Natural Gas Pipeline

    Port Arthur LNG

    Sempra Approves $14bn on Phase 2 Port Arthur LNG Development

  • Projects
    Tamboran to acquire Falcon Oil Gas

    Tamboran to Acquire Falcon Oil & Gas in Australia

    Subsea Production Systems

    TechnipFMC Gets Petrobras Subsea Production Systems Deal

    Oil and Gas Exploration

    Egypt Signs 3 Deals worth Over $121M for Oil and Gas Exploration

    13bn Worth Iraq Project

    QatarEnergy, TotalEnergies Partner $13bn Worth Iraq Project

    25 Billion LNG Project

    McDermott Gets Key Contract for $25 Billion LNG Project

    4bn New Israeli Gas Offtake Contracts

    Energean Lands $4bn New Israeli Gas Offtake Contracts

    LNG Procurement and Trading

    Singapore-China Apply Cap on LNG Procurement and Trading

    Production Sharing Contract of Nigeria

    Production-Sharing Contract of Nigeria with TotalEnergies

    First Arctic LNG 2 Gas Delivery

    First Arctic LNG 2 Gas Delivery from Russia to China Starts

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    Cloudera and Aramco Plan to Collaborate on AI driven Digital Innovation in Saudi Arabia

    Cloudera and Aramco Plan to Collaborate on AI-driven Digital Innovation in Saudi Arabia

    Youth-Empowerment at Namibia Oil and Gas Conference 2025

    Namibia Oil and Gas Conference 2025 Announces Future Generations Masterclass in Partnership with the Namibia Youth Energy Forum

    Alaska LNG

    Glenfarne Announces Over $115 Billion of Strategic Partner Interest for Alaska LNG

    agreements with US companies

    Aramco announces 34 MoUs and agreements with US companies

    Sinopec Sets New Vertical Well Depth

    Sinopec Sets New Vertical Well Depth Record of 5,300 Meters

    Jubail Asset Integrity

    Jubail to Host the 3rd Asset Integrity and Process Safety Conference & Exhibition 2025

    IPTC 2025 Launched: Driving Innovation, Sustainability, and Excellence in Energy

    Ocean Business announces exhibitor list for 2025 show

    Ocean Business 2025 conference programme announced

  • Market Reports
    AI Technology Maturing the Oil and Gas Workforce

    AI & Technology Maturing the Oil and Gas Workforce

    HDPE Market in Oil and Gas

    HDPE Market in Oil and Gas: Trends and Global Forecast

    Top 5 Oil and Gas Sector Trends that are Active in 2025

    Oil-and-Gas-Analytics

    Oil and Gas Analytics Market Growth Trends and Forecast

    Gas-Transportation

    Transport Capacity – Key to Gas Sector Growth in India

    Offshore-Drilling

    Namibia Showcases its Offshore Drilling Activities

    Global-Oil

    Demand for Global Oil to Grow to Almost 104 mb/d in 2025

    ExxonMobil to sell Norway upstream operations for $4.5 billion

    ExxonMobil completes acquisition of Pioneer Natural Resources

    Ithaca Energy unit to acquire Chevron’s Central North Sea assets

    ExxonMobil doubles Permian footprint after finalizing Pioneer acquisition

  • Events
  • Contact Us
No Result
View All Result
Oil&Gas Advancement
No Result
View All Result
Home Market Reports

ExxonMobil to Acquire Interest in Block Containing Brazila’s Carcara Oil Field from Statoil

in Market Reports, Upstream
Share on FacebookShare on Twitter

ExxonMobil announced that it has completed an agreement to purchase half of Statoil’s interest in the BM-S-8 block offshore Brazil, which contains part of the pre-salt Carcara oil field.

The Carcara field contains an estimated recoverable resource of 2 billion barrels of high-quality oil. The block is located approximately 200 miles offshore Rio de Janeiro.

Statoil currently holds a 66 percent interest in the block, which contains about half the Carcara field. The other part of the field is in the adjacent North Carcara block, where ExxonMobil, Statoil and Petrogal Brasil were high bidders in a bid round held today. Statoil will continue to operate the Carcara development and hold 33 percent interest.

Over the last month, through bid rounds and announced farm-in agreements, ExxonMobil has added 14 blocks comprising more than 1.25 million net acres offshore Brazil to its portfolio, bringing its total acreage in the country to more than 1.4 million net acres.

These agreements and recent bid round results mark ExxonMobil’s entry into a world-class resource and prospective exploration acreage in Brazil,” said Darren Woods, chairman and chief executive officer of ExxonMobil. “ExxonMobil has a long history in the country and we’re confident our deepwater technology and project expertise can help to further grow the value of Brazil’s energy resources. We look forward to working with Petrobras and all our partners to begin to explore and develop this high quality acreage.”

Separately, ExxonMobil recently added highly prospective acreage to the company’s portfolio after completing a farm-in agreement with Queiroz Galvão Exploração e Produção (QGEP).

ExxonMobil will make an upfront cash payment of approximately $800 million for the interest in BM-S-8 block, and an additional contingent cash payment for a potential total of approximately $1.3 billion. The transaction is subject to government approvals and is expected to close in 2018.

Following the close of the transaction, partner interests in the BM-S-8 block will be 33 percent for Statoil, 33 percent for ExxonMobil, 14 percent for Petrogal Brasil, a subsidiary of Galp, and 10 percent each for QGEP and Barra.

About ExxonMobil
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is the largest refiner and marketer of petroleum products, and its chemical company is one of the largest in the world. For more information, visit www.exxonmobil.com

Previous Post

Aramco Overseas Company B.V. enters into arrangement to buy stake in Rotterdam terminal from Gunvor

Next Post

Peter Clarke announced as president of gas and power marketing company of EXXON MOBIL. As ROB FRANKLIN retires

Related Posts

First Oil Production
News

U.S. Gulf Achieves First Oil Production Milestone

October 4, 2025
Tamboran to acquire Falcon Oil Gas
Asia Pacific

Tamboran to Acquire Falcon Oil & Gas in Australia

October 3, 2025
Subsea Production Systems
America

TechnipFMC Gets Petrobras Subsea Production Systems Deal

October 3, 2025
Frontier Exploration to Grow
News

Global Oil And Gas Majors Push Frontier Exploration to Grow

September 30, 2025
Oil and Gas Projects
Exploration Development

More Oil and Gas Projects Imperative, Says the IEA

September 17, 2025
4bn New Israeli Gas Offtake Contracts
Exploration Development

Energean Lands $4bn New Israeli Gas Offtake Contracts

September 12, 2025
Next Post

Peter Clarke announced as president of gas and power marketing company of EXXON MOBIL. As ROB FRANKLIN retires

LatestNews

Natural Gas to China at Lower Prices
Downstream

Russia Indicates Natural Gas to China at Lower Prices

October 4, 2025
First Oil Production
News

U.S. Gulf Achieves First Oil Production Milestone

October 4, 2025
Tamboran to acquire Falcon Oil Gas
Asia Pacific

Tamboran to Acquire Falcon Oil & Gas in Australia

October 3, 2025
Subsea Production Systems
America

TechnipFMC Gets Petrobras Subsea Production Systems Deal

October 3, 2025
Energy Security of the UK
Gases

£830mn Gas Storage Project for Energy Security of the UK

September 29, 2025
Frontier Exploration to Grow
News

Global Oil And Gas Majors Push Frontier Exploration to Grow

September 30, 2025

About Us

Oil & Gas Advancement is a specialized platform delivering latest news and industry insights for the global oil and gas sector. Featuring market intelligence, expert opinions, events and updates, it serves as a trusted and strategic resource for industry stakeholders navigating energy transitions.

Subscribe Us

Resources

  • Advertise with us
  • Contact Us
  • Newsletter Archive
  • Download Mediapack

System

  • Search
  • Site Map
  • RSS Feed
  • Upstream
  • Pipelines & Transport
  • Downstream

© 2025 Copyright Valuemediaservices 2025 All rights reserved.

No Result
View All Result
  • Home
  • News
  • Projects
  • Whitepapers
  • Press Releases
  • Market Reports
  • Events
  • Contact Us

© 2025 Copyright Valuemediaservices 2025 All rights reserved.