StatoilHydro Seals the Deal with Anadarko for Peregrino Offshore Oilfield

StatoilHydro has successfully completed the full acquisition of the Peregrino heavy-oil field offshore Brazil, after closing the deal to acquire the additional 50% stake from Anadarko.

Agencia Nacional de Petroleo (ANP), the governmental agency responsible for regulating oil & gas operations in Brazil, has officially approved the deal, granting StatoilHydro with 100% ownership of this asset, and therefore becoming the operator.

StatoilHydro views Brazil as an attractive and economically stable market and is now well established in the country.

"This deal underpins StatoilHydro’s long-term commitment to Brazil, and will allow us to establish a leading position in an appealing core area, in a region with significant growth potential," said Thore E. Kristiansen, senior vice president for StatoilHydro's South Atlantic region.

StatoilHydro's portfolio in Brazil also includes seven other exploration licenses in the basins of Santos, Campos, Jequitinhonha, Espírito Santo and Camamu.

The Peregrino field is located 85 kilometers off the coast of Rio de Janeiro, in the southwestern part of the Campos Basin, in waters up to 100 meters deep.