ExxonMobil completes purchase of Carcara stake

ExxonMobil has acquired half of Equinor’s interest in the BM-S-8 block offshore Brazil, which contains part of the 2bn-barrel, pre-salt Carcara oil field. Production is expected to start in 2023 or 2024.

ExxonMobil currently holds a 36.5% interest in the BM-S-8 block, partnered by Equinor (formerly Statoil; 36.5%), Petrogal Brasil (17%) and Barra Energia (10%).

ExxonMobil also has a 40% stake in the North Carcara block adjacent to BM-S-8, with co-venturers Equinor and Petrogal Brasil. The block contains the other part of the significant Carcara field. Equinor is the operator of both Carcara North and BM-S-8.