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  <h1>Farming into Brazil block</h1> 
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    <div class="date-module"> <span class="date_module-icon fa fa-calendar"></span> <span>May 15, 2003, 01:30 CEST</span> 
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     <p>An agreement has been concluded by Statoil on acquiring 25 per cent of block BM-C-10 operated by Shell off Brazil, in which the first wildcat was recently spudded.</p> 
     <p>The licence covers 1,921 square kilometres off Rio de Janeiro, and lies in a deepwater area that is little-explored but nevertheless close to the productive part of the Campos Basin.</p> 
     <p>“We believe this is an exciting frontier area,” says Tony Dore, vice president for the Americas unit of global exploration (GEX) in the International Exploration &amp; Production business area.</p> 
     <p>“Since the block lies in 2,900 metres of water, it will give us experience of exploration drilling in such depths and with new drilling technology.”</p> 
     <p>The first wildcat, 1-Shell-14-RJS, was spudded on 25 April and is targeted at a potential oil prospect.</p> 
     <p>Shell retains 40 per cent of the block, while Wintershall holds 35 per cent.</p> 
     <p>Statoil already has interests in four other Brazilian offshore licences.</p> 
     <p>The agreement is dependent on approval by the Brazilian petroleum directorate, Agência Nacional do Petróleo (ANP).</p> 
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