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Statoil And Partners Strike Oil Off Brazil

April 19, 2016

Energy company Statoil and partners Repsol Sinopec Brasil and Petrobras have struck oil off the coast of Brazil, in a deepwater offshore area called the Campos Basin, the Norwegian firm said on Monday.

The appraisal well encountered a 175-meters hydrocarbon column and produced around 16 million standard cubic feet of gas and 4,000 barrels per day of oil, Statoil said.

Repsol Sinopec Brasil is currently the operator with a stake of 35 percent, but Statoil will take over as operator in the third quarter. It has a stake of 35 percent, while Petrobras holds the remaining 30 percent.

Repsol Sinopec Brasil is a joint venture of Spain’s Repsol and China’s Sinopec.

 

 

 

 

 

 

 

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