Brazil’s No.2 oil producer, Norway’s Statoil ASA and its partner, China’s Sinochem Corp, have released potential plans to expand their offshore Peregrino area in Brazil.
The expansion comes after evidence that the Peregrino reserves extend beyond the current limits of the field and into the adjacent BM-C-47 exploration block, which is also owned by the two companies, with Statoil and Sinochem owning 60% and 40% respectively.
The companies are hoping to annex oil areas in BM-C-47 to the Peregrino field once they get the go ahead from Brazil’s oil regulator, the ANP. If approved, a Peregrino Phase II project would require the connection of another oil production platform to an existing system of two fixed platforms and a floating oil production, storage and offloading vessel, or FPSO, already working in Peregrino.
ANP figures show that it is the NO.8 biggest producing field in the country, producing an average of 83,000 barrels of crude oil a day and another 1,000 barrels of equivalent natural gas in a day in August.