Peregrino Development Plan Approved in Record Time

Peregrino Field
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The Plan of Development (PoD) for the Peregrino field was submitted to the Agencia Nacional do Petroleo (ANP) in Rio de Janeiro at the end of March and was approved slightly more than a month later.

"This is a very positive step forward in the development of the field," says Harald Eliassen, head of planning, Peregrino project.

"We are very happy with the quick response by the Brazilian authorities. The team from Hydro and Anadarko has created a solid foundation for the development, and we are poised to move forward on this significant project, which is Hydro's first in the Brazilian oil sector," says Eliassen.

The field will be developed with a floating production, storage and off-loading vessel (FPSO), two drilling platforms, 30 production wells and seven water-injection wells.

The partnership has already entered into an agreement with Maersk Contractors for rental and operation of the FPSO, and with Kiewit offshore Services Ltd., Texas, for the supply of two drilling platforms.

An agreement has also been reached with Subsea 7 for the engineering, procurement, construction and installation of the pipelines connecting the platforms to the ship.

The Peregrino field is located about 85 kilometers offshore Brazil at a water depth of approximately 100 meters.

The recoverable reserves are estimated at between 300 and 600 million barrels of heavy oil. A delineation well is currently being drilled in the south-west extension of the field.

License holders are Hydro with 50 percent -- operator during the project planning phase and Anadarko with 50 percent operator during the project execution and operation phases.

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