Norway’s Statoil launches oil production in Brazil

14 April 2011

Rio de Janeiro, Brazil, 14 April – Norwegian oil company Statoil has launched its oil production in Brazil and wants to become the second-largest producer there, after Petrobras, within a year.

The start of production in Brazil was announced Monday by the company’s chairman in Brazil, Kjetil Hove.

The first well in the Peregrino oil field, in the Campos basin, started producing a total of 12,000 barrels of oil per day, and this is expected to rise to 100,000 barrels per day in the next 12 months.

The Peregrino oil field is located in the sea some 85 kilometres off the Brazilian coast and just 100 below sea level. Oil from the field will be sent to refineries in the United States.

When it achieves production of 100,000 barrels per day Statoil will be the second-largest oil and gas producer in Brazil, overtaking Shell, which produces around 40,400 barrels of oil per day, and Chevron, which ahs production of 32,400 barrels, also in the Campos basin. (macauhub)