The Peregrino field is located 85 kilometres offshore Brazil in the Campos basin at about 100 metres water depth in licenses BMC-7 and BMC-47. Production from the field started in April 2011 and reached its plateau of 100,000 bbl/day in 2013.

The first phase of the development includes two fixed drilling and wellhead platforms and a large floating production, storage and offload unit (FPSO). A total of 40 producer wells are planned, using advanced horizontal well technology to maximize recovery.

The field contains 300 to 600 million barrels of recoverable oil equivalent, with a significant yet-to-find potential. Around 700 workers from 25 different companies work offshore, along with 350 office works in Rio, to make the Peregrino field function.

The Peregrino field showcases our project management, execution and subsurface and reservoir management skills. We are using our experience gained at the Norwegian continental shelf to share competence and experience and to create value locally in Brazil.

Statoil is now developing the Peregrino phase 2 project, which will enable the extension of the economic life of the Peregrino field. The project entails a new well head platform and drilling rig (Platform C) and adds approximately 250 million barrels in recoverable resources to Peregrino field.
The Plan of Development (PoD) was submitted to Brazilian authorities in January 2015 and the production is expected to start in the end of the decade.

The field was discovered in 1994. Statoil acquired a 50% stake in the discovery in 2005, and the remaining 50% and its operatorship in 2008. The Peregrino development plan was approved by the Brazilian authorities in 2007.

In May 2010 Statoil sold a 40% stake of the Peregrino field to the Sinochem Group. Statoil holds 60% ownership and the operatorship of the field and Sinochem the remaining 40%.