Statoil says finds oil, gas off Brazil
Norway's Statoil said on Monday that it helped make a "high-impact discovery" off Brazil in partnership with Repsol Sinopec and Petrobras, Reuters reported.
"The Pao de Acucar well encountered two pre-salt accumulations comprising a hydrocarbon column of 480 metres with a total pay of around 350 metres," Statoil said in a statement.
"A test performed in a partial section of the pay zone flowed 5,000 barrels per day of light oil and 28.5 million cubic feet per day of gas."
Repsol Sinopec is operator of the exploration consortium with a 35 percent stake. Partners Statoil and Petrobras hold respective 35 percent and 30 percent shares.
Statoil said the Pao de Acucar discovery is the third find made in the BM-C-33 block after Seat and Gavea and confirms the area's high potential.
For Statoil, it is the sixth big discovery in the past year, including finds off Norway, Brazil and Tanzania.
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