Statoil married Brazil

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“Statoil married Brazil” – said Mr Mauro Andrade – Supply Chain VP of Statoil at a Britcham Luncheon. Having invested over U$10bi during 16 years and employing 1000 people directly in the country, the company is committed to Brazil.

Initially attracted by geology and similar conditions from the North Sea such as deep waters and complex developments that require an intense work in partnership with the supply chain, the company now sees the need for competitiveness in Brazil in order to attract investment. 

With 40% of its production coming from International markets, Statoil sees the future in Brazil and USA.

Their portfolio include projects in all phases, from exploration, development to operation as they already produce 90Kbopd. After a huge effort, they decreased the breakeven of Peregrino field from 70 in 2014 to 45 USD/bbl by working together with suppliers. Peregrino now stands as a success case project out of Norway, which led to a decision of taking over the operation activity of the FPSO in June/17.

Under exploration, they have projects like BM-C-33 which shall declare commerciality until March 2018. They have discoveries on Gavea, Seat and Pão de açúcar, where already 6 wells have been drilled with increased efficiency of meter drilled per day (almost tripled) and costs 45% lower. On BM-S-8, where Carcará is located, Statoil will submit an additional evaluation plan with the production test coming soon. The fields expands into areas not yet bided and an unification agreement is needed.

They also explained how their procurement process is structured, and EIC members can contact the EIC Rio team to learn more about this at rio@the-eic.com

You find full details about those projects on EICDatastream from @ Energy Industries Council 

By Clarisse Rocha – Head of Americas at Energy Industries Council (EIC)

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