Statoil awarded 6 licences offshore Brazil

abarrelfullabarrelfull wrote on 17 May 2013 18:53
Tags: brazil s-america statoil upstream

Latest News

{"module":"feed\/FeedModule","params":{"src":"http:\/\/\/feed\/pages\/pagename\/blog%3A_start\/category\/blog\/limit\/10\/t\/My+Blog","limit":"3","module_body":"* %%linked_title%%"}}
  • Want a weekly review of refining news?

Statoil was the highest bidder on 6 licenses in the 11th Round, the first licensing round in Brazil since December 2008. With the new licenses, Statoil has strengthened its position in the Espirito Santo basin.

The award in Brazil's 11th licencing round reflects Statoil's extensive application and ambition of long-term growth in Brazil. Out of the 6 licences awarded in Espirito Santo, Statoil is the operator for four and partner in two of the licences.

"We are very pleased with the outcome", says Tim Dodson, executive vice president for Exploration in Statoil.

"The award of the blocks in the Espirito Santo Basin is in line with Statoil's exploration strategy to build on core positions in prolific and proven basins", he adds.

Statoil's application for exploration licenses in the basin is based on established and new geological play models.

"The new positions underscore our ambition to grow in Brazil, which we see as a region for long-term growth.

"Access to new quality acreage is an essential prerequisite for further value creation through exploration activities and for increasing Statoil's international production level from key clusters such as Brazil", says Thore E. Kristiansen, senior vice president South America and President for Statoil Brazil.

In December 2012 Statoil acquired 25% participating interest from Vale SA in BM-ES-22A in the Espirito Santo Basin. Petrobras is the operator with 75 %.

The farm-in is pending ANP approval. BM-ES-22A is adjacent to the BM-ES-32 license where Statoil is partner and which holds the Indra discovery.

"These new licences in the Espirito Santo basin give us a significant acreage position in a proven hydrocarbon basin. They have the potential to provide large scale additional resources close to our existing discoveries, which with success will result in Statoil building a new core position", says Dodson.

Statoil operates the Peregrino field in Brazil, which came on stream in April 2011, and Statoil is currently the largest international operator in the country. Statoil is also operator of some of the world's largest oil and gas discoveries over the last couple of years and has a strong safety and environmental record.

The 11th bidding round on 14 and15 May was conducted by the National Agency of Petroleum, Natural Gas and Biofuel (ANP). The concession agreements from the 11th licencing round are scheduled to be signed in August 2013.

In the 11th licencing round in Brazil Statoil has been awarded:

6 exploration licenses in the Espirito Santo basin of which four as operator and two as partner.
The licences are located in the deepwater sector of the Espirito Santo basin, close to the licences BM-ES-32 and BM-ES-22A which are operated by Petrobras and in which Statoil is already a partner.
The blocks have an exploration phase of 7 years, divided in to 2 periods of 5 years and 2 years, and the total well commitment for the 6 licenses is 10 wells.

  • ES-M-596: Petróleo Brasileiro S.A.* (50%), Statoil Brasil Óleo e Gás Ltda. (50%)
  • ES-M-598: Statoil Brasil Óleo e Gás Ltda.* (40%), Petróleo Brasileiro S.A. (40%), Queiroz Galvão Exploração e Produção S.A. (20%)
  • ES-M-669: Petróleo Brasileiro S.A.* (40%), Total E&P do Brasil Ltda. (25%), Statoil Brasil Óleo e Gás Ltda. (35%)
  • ES-M-671: Statoil Brasil Óleo e Gás Ltda.* (35%), Petróleo Brasileiro S.A. (40%), Total E&P do Brasil Ltda. (25%)
  • ES-M-673: Statoil Brasil Óleo e Gás Ltda.* (40%), Queiroz Galvão Exploração e Produção S.A. (20%), Petróleo Brasileiro S.A. (40%)
  • ES-M-743: Statoil Brasil Óleo e Gás Ltda.* (35%), Petróleo Brasileiro S.A. (40%), Total E&P do Brasil Ltda. (25%)

Unless otherwise stated, the content of this page is licensed under Creative Commons Attribution-ShareAlike 3.0 License