Sinochem to join Statoil at Brazil's Peregrino field

摘要

London-Norway's Statoil has agreed to sell a 40% stake in the Peregrino oil field offshore Brazil to China's Sinochem for $3.07 billion in cash, Statoil said May 21. Statoil will keep the other 60% interest in and operatorship of the Campos Basin field, which is due to start production in early 2011. Statoil had said in March that Peregrino production was seen reaching a plateau of 100,000 barrels of oil equivalent/ d within the first year.