Statoil And Partners Strike Oil Off Brazil

19 Apr 2016   Brazil

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. (Reporting by Henrik Stolen, editing by Gwladys Fouche) Copyright 2016 Thomson Reuters. Click for Restrictions. […]

Tags:

Comments are closed.