Statoil Strikes Oil Offshore Brazil

Statoil has made a discovery near the producing Peregrino field in the Campos Basin offshore Brazil. An exploration well drilled in the Peregrino South structure, a few kilometers south of Peregrino, has encountered oil in sandstones of the Carapegus geological formation.

The well found an oil column of 427 feet (130 meters) and additional work will be conducted to confirm the volume. Drilling is continuing in order to penetrate deeper reservoir units and to explore the additional upside potential below the main reservoir unit.

Once the Peregrino South well is completed by the Blackford Dolphin semisub, Statoil will drill an additional appraisal well in the Peregrino South structure to conclude the size of the new discovery.

The Peregrino field is located 53 miles (85 kilometers) off the Rio de Janeiro coast in a water depth of 394 feet (120 meters). Statoil operates the field holding a 60% interest; Sinochem holds the remaining 40%.  

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