Carcara Divestment Delay Highlights Above-Ground Threats
Oil & Gas / Brazil / Wed 19 Apr, 2017
On April 17, a Brazilian court ordered Brazilian national oil company (NOC) Petrobras to suspend its sale of a 66.0% stake of the BM-S-8 deepwater license in the Carcara exploratory block to Statoil. Originally announced in July 2016, the USD2.5bn transaction has been suspended on the grounds that the NOC did not conduct the required open bidding