Field development and production in Brazil
In 2008, we acquired Anadarko's remaining 50% share of the Peregrino oil field and became 100% owner and operator. By 2012, StatoilHydro is expected to become the largest international offshore operator in Brazil in terms of production.
The Peregrino field is a heavy oil field located in approximately 120 metres of water in the prolific Campos Basin off the coast of Brazil, about 85 kilometres off the coast of Rio de Janeiro.
The field is being developed with a Floating Production Storage and Offloading Vessel (FPSO) and two well head platforms with drilling capability.
The first oil production is planned to come on stream in 2011 and we expect to reach a plateau production of 100 mboe per day within the first year of production. All development contracts have been entered into and the execution phase of the project is in progress.
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