Hydro Sambas into Rio

On Friday, Norsk Hydro Executive Vice President Tore Torvund opened the company's new office in Rio de Janeiro, Brazil.

Hydro is currently in the midst of an extensive field development program in Brazil, following the purchase of the Peregrino field (BM-C-7), in which the company owns a 50 percent stake. Peregrino is a major, heavy-oil field in the Campos area, 85 km southeast of Rio.

In drawing up the field development plan, great importance has been attached to utilizing the competence and experience gained when developing similar fields on the Norwegian continental shelf and when drilling horizontal wells to increase recoverable reserves.

Hydro is operator during the project development phase, while Anadarko is participating as partner with a 50-percent interest.

"The acquisition of Peregrino makes Hydro a major player on the Brazilian continental shelf. We have now established an excellent platform for further growth in an area with large oil and gas resources," said Tore Torvund when he opened the office.

Hydro also has extensive operations in a number of other areas in Brazil, including technological cooperation with the Brazilian oil company Petrobras.

The opening of the new office means that Hydro's Oil & Energy and Aluminium operations will share the same Rio de Janeiro headquarters. Hydro's business unit for Brazil is headed by senior vice president Kjetil Solbrække.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.