Statoil (STO) will move forward with development plans for its Peregrino South discovery in the...

|About: Statoil ASA (STO)|By:, SA News Editor

Statoil (STO) will move forward with development plans for its Peregrino South discovery in the Campos basin off Brazil after an appraisal well confirmed its resource estimate. The well encountered ~85 meters of high-quality oil-filled sandstone reservoir, confirming significant potential in the exploration well that was completed in April last year.