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Closes Peregrino acquisition

December 11, 2008, 08:57 CET
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The Peregrino field is located 85 kilometres off the coast of Rio de Janeiro.

 
Agência Nacional de Petróleo (ANP), the governmental agency responsible for regulating oil & gas operations in Brazil, has officially approved the deal, granting StatoilHydro with 100% ownership of this asset, and therefore becoming the operator.

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Thore E. Kristiansen

StatoilHydro views Brazil as an attractive and economically stable market and is now well established in the country.

"This deal underpins StatoilHydro’s long-term commitment to Brazil, and will allow us to establish a leading position in an appealing core area, in a region with significant growth potential," says Thore E. Kristiansen, senior vice president for StatoilHydro's South Atlantic region.

StatoilHydro's portfolio in Brazil also includes seven other exploration licenses in the basins of Santos, Campos, Jequitinhonha, Espírito Santo and Camamu.

The Peregrino field is located 85 kilometres off the coast of Rio de Janeiro, in the southwestern part of the Campos Basin, in waters up to 100 metres deep.