We hold acreage in promising areas such as the mature Campos Basin and the frontier Espirito Santo, Jequitinhonha and Camamu-Almada Basins. In addition, we won bids for three blocks in the 8th Round in the Santos Basin. The blocks are pending award.

Most of our licences are located in deepwater areas, some reaching water depths of up to 2700 metres.

Campos Basin

The Campos Basin is located offshore of Rio de Janeiro. Our licences are located in both shallow and deep waters.

License BM-C-33 

Statoil holds a 35% interest in deepwater licence BM-C-33, located in about 2,500 metres of water in the Campos Basin. The licence was awarded in Brazil’s 7th bid round of October 2005.

With operator Repsol, which holds 35% and partner Petrobras with 30%, the group has drilled two exploration wells to the pre-salt level. The concession is currently in the second exploration period and the work commitment has been fulfilled. The first well drilled the Seat prospect and was completed in 2010. Based on the well results it was decided to enter the second exploration period for an additional two years and take on one new well commitment. The commitment well was drilled on the Gávea prospect and was completed in May 2011. A third well commenced drilling on the Pão de Açúcar prospect in August 2011.

License BM-C-7

This licence contains the Peregrino field. It is located in 100-120 metres of water. Statoil is operator and holds 60 % of the license, with Sinochem holding the remaining 40 %. It is the first field development project as operator outside the NCS. One appraisal well was drilled first half of 2011.

License BM-C-47

This licence is owned 60% by Statoil and was awarded in the 9th Bid Round in 2008. Sinochem entered this license as a partner in April 2011 holding 40% of the license.

Camamu-Almada Basin

The deep water Camamu-Almada Basin is located outside Salvador, in the state of Bahia, where water depths vary from 1,700 to 2,700 metres. These licences were awarded in the 7th Bid Round.

License BM-CAL-7

Statoil was awarded 40 % of deepwater licence BM-Cal-7 in the 7th Bid Round of October 2005.

Petrobras is operator for the license, with a 60 % interest, and the partners are committed to drilling one exploration well and shoot seismic. The well will be drilled in 2012 or 2013.

License BM-CAL-10

Statoil was awarded 60% of deepwater license BM-CAL-10 in the 7th Bid Round of October 2005. Petrobras holds a 40% interest. The commitment for the 1st exploratory period has been fulfilled, including seismic and one well. 2nd exploratory period is under discussion with the ANP.

Jequitinhonha Basin

This acreage is located outside the state of Bahia in 1,000-2,000 metres of water.

License BM-J-3

A 40 % interest in license BM-J-3 was awarded to Statoil in the 4th Bid Round in 2002.

Petrobras is operator for the block, with a 60 % interest, and the partners were committed to drill two exploration wells. The first well was spudded in 2008 and completed in 2009. The second well was drilled in 2009. The wells resulted in two discoveries, the Lua Nova and Velho Barreiro oil discoveries. The licence has been split into two development areas, and Statoil is participating in the area related to the Lua Nova oil discovery and will take part in the appraisal work of this area.

Espírito Santo Basin

This acreage lies in about 2,500 metres of water, outside the Espírito Santo State.

License BM-ES-32

Statoil was awarded 40 % of deepwater license BM-ES-32 in the 7th Bid Round of October 2005. Petrobras is the operator with 60 %. There is a work commitment related to seismic data to be fulfilled before end of the first exploration period. One well was drilled in 2010 in the first exploration period and resulted in the Indra oil discovery. The partnership has decided to enter the next exploration period for an additional two years, and is committed to drill one more exploration well. It has been decided to drill one additional exploration well, and two wells are planned for 2012.

Santos Basin

This acreage lies in about 450 to 2,000 metres of water outside São Paulo state.

The interests in three blocks won in the 8th round in the Santos Basin are pending award.