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Statoil

Statoil and partners Repsol Sinopec Brasil and Petrobras have struck oil in the deepwater Campos Basin offshore Brazil. The appraisal well encountered a 175-m hydrocarbon column and produced approximately 16 MMscf/D of gas and 4,000 B/D of oil, Statoil said. Repsol Sinopec Brasil, a joint venture of Repsol and Sinopec, is the current operator. Statoil will take over as operator in the third quarter, raising its 35% stake in the project to 70%. Petrobras holds a 30% stake.


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