Statoil starts production at Peregrino offshore Brazil

Norway's Statoil has started oil production at the large Peregrino field offshore Brazil. Production will gradually ramp up to a plateau of 100,000 barrels of oil equivalent per day.Statoil says this move makes the company an important long-term operator and partner in Brazil’s attractive and growing oil and gas industry. “We are proud to announce the safe and efficient start-up of Statoil’s largest international operatorship to date. The project team and our partners have done an excellent job in delivering a complex project according to the plan and below costs. With the Peregrino field in full operation Statoil will be the second-largest operator in Brazil, and it offers us an excellent opportunity for future growth in the country. The Peregrino field is a legacy asset and will contribute significantly to both Statoil and Brazil’s oil production for many years to come,” says Helge Lund, president and CEO of Statoil.

Full article is available here. Source: The Norway Post. April 2011