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StatoilHydro acquires blocks offshore Brazil

November 27, 2007, 15:03 CET

Anadarko Petroleum Corporation will be the operator of the licences with a 50% stake, with StatoilHydro holding the remaining 50%. The blocks, numbered CM529 and CM530, are located in sea depths of around 100 metres.

“We are pleased with the good results we have achieved. These licences will further strengthen StatoilHydro’s long-term commitment to Brazilian offshore activities,” says Jorge Camargo, president of StatoilHydro Brazil.

The blocks lie adjacent to the Peregrino field in the Campos basin in which StatoilHydro already holds a 50% interest.

Peregrino is a heavy oil field expected to come on stream in 2010.