Statoil gains six new deepwater Brazil concessions

Offshore staff

STAVANGER, Norway – Statoil has been awarded interests in six exploration licenses in the Espirito basin offshore Brazil, under the country’s 11th licensing round.

The company will operate four of the licenses and partner with operator Petrobras in the other two. The company based its application on established and new geological play models.

Statoil’s awards are as follows:

• ES-M-596: Petróleo Brasileiro S.A. (50%), Statoil Brasil Óleo e Gás Ltda. (50%)
• ES-M-598: Statoil Brasil Óleo e Gás Ltda. (40%), Petróleo Brasileiro S.A. (40%), Queiroz Galvão Exploração e Produção S.A. (20%)
• ES-M-669: Petróleo Brasileiro S.A. (40%), Total E&P do Brasil Ltda. (25%), Statoil Brasil Óleo e Gás Ltda. (35%)
• ES-M-671: Statoil Brasil Óleo e Gás Ltda. (35%), Petróleo Brasileiro S.A. (40%), Total E&P do Brasil Ltda. (25%)
• ES-M-673: Statoil Brasil Óleo e Gás Ltda. (40%), Queiroz Galvão Exploração e Produção S.A. (20%), Petróleo Brasileiro S.A. (40%)
• ES-M-743: Statoil Brasil Óleo e Gás Ltda. (35%), Petróleo Brasileiro S.A. (40%), Total E&P do Brasil Ltda. (25%).

All are in the deepwater sector of the Espirito Santo basin, close to licenses BM-ES-32 and BM-ES-22A operated by Petrobras in which Statoil is already a partner. The blocks have a seven-year exploration phase with an ultimate commitment to drill a total of 10 wells across the blocks.

Brazil’s National Agency of Petroleum, Natural Gas and Biofuel (ANP) conducted the 11th bidding round. Concession agreements are due to be signed in August.

5/15/2013