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Equinor completes purchase of Brazilian oil discovery for £300m

CEO Renato Bertani (left), Barra Energia, and Anders Opedal, Brazil country manager. (Photo: Guilherme Botelho / Equinor ASA)
CEO Renato Bertani (left), Barra Energia, and Anders Opedal, Brazil country manager. (Photo: Guilherme Botelho / Equinor ASA)

Norwegian energy giant Equinor has announced that it has bought up interest in a Brazilian oil discovery for more than £300 million.

Equinor has completed the transaction, originally announced on  July 4 2018 for the Carcara oil prospect.

It has purchased the 10% interest from Rio de Janeiro-based firm Barra Energia.

The deal saw the Norwegian firm acquire Barra’s interest in the BM-S-8 block in Brazil’s Santos basin.

Equinor said its interests across the two licences for the Carcara area are now “fully aligned”.

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