Statoil And Partners Strike Oil Off Brazil

Statoil And Partners Strike Oil Off Brazil
Statoil and partners Repsol and Petrobras strike oil off the coast of Brazil, in a deepwater offshore Campos Basin.

Reuters

April 18 (Reuters) - Energy company Statoil and partners Repsol Sinopec Brasil and Petrobras have struck oil off the coast of Brazil, in a deepwater offshore area called the Campos Basin, the Norwegian firm said on Monday.

The appraisal well encountered a 175-meters hydrocarbon column and produced around 16 million standard cubic feet of gas and 4,000 barrels per day of oil, Statoil said.

Repsol Sinopec Brasil is currently the operator with a stake of 35 percent, but Statoil will take over as operator in the third quarter. It has a stake of 35 percent, while Petrobras holds the remaining 30 percent.

Repsol Sinopec Brasil is a joint venture of Spain's Repsol and China's Sinopec.

(Reporting by Henrik Stolen, editing by Gwladys Fouche)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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