StatoilHydro acquires interest offshore Brazil

Offshore staff

STAVANGER, Norway -- StatoilHydro has bid successfully on two blocks offshore Brazil in the National Agency of Petroleum's ninth bidding round. The blocks, CM529 and CM530, are in water depths of around 100 m (328 ft).

The company says Anadarko Petroleum Corp. will be the operator of the licenses with a 50% stake, with StatoilHydro holding the remaining 50%.

"These licenses will further strengthen StatoilHydro's long-term commitment to Brazilian offshore activities," says Jorge Camargo, president of StatoilHydro Brazil.

The blocks lie adjacent to the heavy-oil field Peregrino in the Campos basin where the company already holds a 50% interest. Peregrino is expected to come on stream in 2010.

11/27/2007