Statoil Hydro wins Offshore Brazil Bid

Monday, December 03, 2007
Statoil Hydro on November 27 said it has won a bid to conduct offshore exploration off Brazil. The Norwegian group was awarded two blocks offshore. The blocks, numbered CM529 and CM530, are located in sea depths of around 100 m. The licenses for the two blocks were to be operated by Anadarko Petroleum Corporation that would have a 50 percent stake, the same as Statoil Hydro. Statoil Hydro did not state what the bid cost. The blocks were located next to the heavy oil field Peregrino that was slated to come on stream in 2010. Statoil Hydro has a 50-percent-stake in the Peregrino field in the Campos basin. The Norwegian group was created October 1 when Statoil and its rival Norsk Hydro merged their oil and gas activities. StatoilHydro and other oil producers were lifted by oil prices which moved up on expectations of another fall in US crude oil inventories. “We are pleased with the good results we have achieved. These licences will further strengthen StatoilHydro’s longterm commitment to Brazilian offshore activities,” said Jorge Camargo, president of Statoil- Hydro Brazil. The blocks lie adjacent to the Peregrino field in the Campos basin in which Statoil- Hydro already holds a 50 percent interest. The news came after Statoil announced a new gas discovery in Azerbaijan, announced by BP. Statoil has 25 percent of the Shah Deniz field and said the find meant there was potential of more than doubling the output from the field. (Source: www.neurope.eu)
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Dryships in the Red

DryShips Inc. and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, today announced its unaudited financial and

Ulstein Verft Delivers 'Blue Queen’

On 24 February 2015, ‘Blue Queen’ a platform supply vessel of the PX121 design, was delivered to Blue Ship Invest from Ulstein Verft. This vessel is the first

Indonesia Upbeat Ahead of IORA Chair

Indonesia is gearing up to turn its foreign policy focus westward when its role as Indian Ocean Rim Association (IORA) chair begins later this year, reports Jakarta Post.

Education/Training

USCG Foundation Announces Scholarships

The Coast Guard Foundation, a non-profit organization committed to the education and welfare of Coast Guard members and their families, announced today that

Offshore Safety Training from Seagull

Saegull Maritime has announced the launch of two new computer-based training (CBT) modules, focusing on deck safety for specific types of offshore vessels that

NATO Maritime Commander Visits IMO Antipiracy Training

NATO Maritime Commander Vice Admiral Peter Hudson, CBE Royal Navy, visited the two-week Advanced Maritime Law Enforcement/Training of Trainers course taking place

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1886 sec (5 req/sec)