Statoil wins Brazilian blocks, operatorships

Statoil secured interests in operatorships for four deepwater blocks and two other Brazilian continental shelf licences in the country's sixth licensing round.

Statoil secured interests in operatorships for four deepwater blocks and two other Brazilian continental shelf licences in the country's sixth licensing round. Brazil's licensing authority awarded one operatorship to Statoil as sole licensee, while state oil company Petrobras has 40% in the three others. Statoil has a 40% interest in the two licenses with Petrobras as operator holding the remaining 60%.

"These were the blocks we applied for after starting work early this year on surveying the area in question," says Bill Maloney, senior vice president for global exploration in the International Exploration & Production business area.

All six of the blocks are located just off the Brazilian coast, south of the city of Salvador in 1,000-2,500 m of water. The Statoil-operated blocks cover 2,420 sq km, while Petrobras is operator for some 1,360 sq km. By comparison, the average Norwegian North Sea block is about 500 sq km.

Statoil will carryg out a seismic survey program due to start next year, and drill at least two exploration wells in the six blocks. According to Maloney, the group hopes to spud its first well on one of the blocks in 2006 after interpreting the results of the seismic program.

Statoil is already involved in four Brazilian offshore blocks, including one as operator.

8/18/2004

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