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Wednesday, Oct 9
Statoil, Sinochem consider expanding Brazil offshore oil field
- Norway's Statoil (STO) and partner Sinochem may expand their offshore Peregrino area in Brazil, boosting expectations for an oilfield that is already the top foreign-run producer in the country.
- The companies are studying evidence that Peregrino reserves extend beyond the existing limits of the field and into the adjacent BM-C-47 exploration block; STO owns 60% of the two blocks and Sinochem owns 40%.
- Peregrino produced an average of 83K bbl/day of crude and another 1K boe/day of natural gas in August.