Peregrino South oil discovery

 

The results of drilling an appraisal well on the Peregrino South discovery in the Campos basin offshore Brazil have confirmed significant potential in the Peregrino South in the exploration well that was completed in April 2011.

Statoil ASA, together with partner Sinochem, completed drilling well 3-STAT-8-RJS.

The objectives of the appraisal well were to confirm the previous volume estimate for the Peregrino South discovery and secure an optimal development solution for the Peregrino Phase II development.

The appraisal well encountered approximately 85 meters of high-quality oil-filled sandstone reservoir in the Carapebus formation supporting the current subsurface model. Net pay in the well was more than 70%.

“This confirms our positive view on the Peregrino area and will form an important basis for the Peregrino Phase II development. We will now continue to work toward a final investment decision to develop this new oil discovery,” says Kjetil Hove, Statoil’s country president in Brazil.

The Peregrino field is located 85 kilometers offshore Brazil in the Campos basin at about 100 meters of water depth. Sinochem holds 40 per cent ownership and Statoil holds the remaining 60 per cent as well as operatorship of the field.

The Statoil-operated Peregrino field includes two drilling and wellhead platforms and a large floating production, storage and offload unit (FPSO). Oil production from the Peregrino field started in April 2011, and the field is currently one of the largest producing offshore oil fields in Brazil.

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