Statoil to Start Brazil Production – Analyst Blog

Norway-based Integrated StatoilHydro ASA ( STO ) intends to start production at the Peregrino heavy-oilfield in Brazil in early 2011. The company will start drilling wells in the first half of 2010 for this purpose.  The field is situated 85 kilometers off the coast of Rio de Janeiro state near Cabo Frio and has an estimated 460 million barrels of recoverable oil. The company expects peak production to reach 100,000 barrels per day in 2012.  Until 1997, foreign companies were barred from t

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