Statoil Confirms High-impact Discovery Offshore Brazil

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The FINANCIAL — Norwegian oil company Statoil ASA confirmed Monday it has made a high-impact discovery offshore Brazil, together with operator Repsol Sinopec and partner Petrobras.


According to London Stock Exchange, the discovery was made in the Pao de Acucar prospect, about 195 kilometers offshore Rio de Janeiro State at a water depth of 2,800 meters.

A test flowed 5,000 barrels a day of light oil and 28.5 million cubic feet a day of natural gas.

This is the third discovery in the BM-C-33 block, and "confirms the area's high potential," Statoil said in a statement.

Repsol Sinopec is the operator of the exploration consortium with a 35% stake. Statoil holds a share of 35% and Petrobras holds 30%. Repsol Sinopec is a alliance between Spain's Repsol YPF SA and China's Sinopec.

Statoil said this is its sixth high-impact discovery in 12 months. The others are Havis, Skrugard and Johan Sverdrup in Norway, Peregrino South in Brazil and Zafarani in Tanzania.



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