Brazil is an attractive country for Statoil to do business. Since the opening of the E&P market to private and foreign players in 1997, Brazil has demonstrated a considerable resource potential and provides an attractive and stable investment environment.
Brazil is also a country where we can fully apply our offshore technology expertise developed on the Norwegian Continental Shelf.
Statoil is already well established in Brazil. We are currently the operator and hold a 60% stake in the large Peregrino field 85 km off the coast of Rio de Janeiro and 7 exploration licences.
Statoil also cooperates with the national oil company Petrobras with a number of commercial and technological agreements in place.