Statoil proves more oil south of Peregrino

Offshore staff

STAVANGER, Norway -- Statoil has discovered further oil close to its newly producing Peregrino field in the Campos basin offshore Brazil.

A well on in the Peregrino South structure, drilled by the Blackford Dolphin in a water depth of 120 m (393 ft), encountered a gross oil column of 130 m (426 ft) in sandstones of the Carapebus formation.

Drilling continues to penetrate deeper reservoir units and to probe for upside below the main reservoir.

Statoil has further potential for development in the 2007 Peregrino Southwest discovery. One additional appraisal well is planned here.

Production from the Peregrino field started last week and will build to a plateau of 100,000 boe/d. The initial development of the field is targeting 300-600 MMboe recoverable.

04/14/2011



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