Petrobras discovers large volumes of light oil in the Espírito Santo pre-salt layer

Petrobras discovers large volumes of light oil in the Espírito Santo pre-salt layer

Petrobras announces that it has completed the drilling of two new wells in the pre-salt layer off the coast of Espírito Santo and proved an expressive discovery of light oil (30 degrees API) in the area called Parque das Baleias. The recoverable volume of the discoveries, made in pre-salt reservoirs located underneath the Baleia Franca, Baleia Azul, and Jubarte heavy oil fields. Full text

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StatoilHydro updates on production and exploration forecast

2007.11.12 - Subsea Headlines

Today, StatoilHydro is publishing the consolidated pro forma financial information per 30 September for the combined company.

The attached unaudited pro forma financial information is on a preliminary basis and may be subject to change.

Production forecast 2007

StatoilHydro’s total oil and gas production in 2007 is estimated to average around 1,735,000 barrels of oil equivalent (boe) per day, given an oil price of 60 USD/bbl and a gas off-take in line with a typical seasonal variation in the last quarter of 2007.

Capital expenditure forecast  2007

The investment level (CAPEX) in 2007 is estimated to be around NOK 65 billion, excluding acquisition costs related to North American Oil Sands Corporation, assets acquired from Anadarko in the Gulf of Mexico and  interests in the Mariner and Bressay fields on the UK continental shelf

Exploration forecast 2007

Exploration expenditure in 2007 is expected to be around NOK 15-16 billion, and a total of 65-70 exploration wells are expected to be completed in 2007.




See also:

Applied Acoustics - Easytrak Sales Hit 50 and Growing

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Tampen Link Gas from Statfjord to the UK

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Recommends Troll development project to be discontinued 

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Breakthrough subsea contract to Aker Kvaerner in the US

Petrobras Americas Inc. has awarded Aker Kvaerner a contract to supply subsea power cables and control umbilicals to its Cascade and Chinook fields in the Gulf of Mexico. The contract, worth approximately USD 65 million, represents a significant breakthrough for Aker Kvaerner's power cable technology.

StatoilHydro will sign Shtokman agreement with Gazprom

StatoilHydro will today, 25th of October, sign a frame agreement with Gazprom to become partner in the Shtokman development, phase 1.