StatoilHydro Takes Two Offshore Brazil

In the National Agency of Petroleum's ninth bidding round, StatoilHydro bid successfully on two blocks offshore Brazil.

Anadarko Petroleum Corporation will be the operator of the licenses with a 50% stake, with StatoilHydro holding the remaining 50%. The blocks, numbered CM529 and CM530, are located in sea depths of around 100 meters.

"We are pleased with the good results we have achieved. These licenses will further strengthen StatoilHydro's long-term commitment to Brazilian offshore activities," says Jorge Camargo, president of StatoilHydro Brazil.

The blocks lie adjacent to the Peregrino field in the Campos basin in which StatoilHydro already holds a 50% interest.

Peregrino is a heavy oil field expected to come on stream in 2010.

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