Statoil submits development plan for Peregrino Phase II

Following the sanction of the Peregrino phase 2 project in December, Statoil together with its partner Sinochem submitted the Plan of Development (PoD) to the National Agency of Petroleum, Natural Gas and Biofuels (ANP) in Rio de Janeiro on 30 January. The project entails a new well head platform and drilling rig (Platform C) and adds approximately 250 million barrels in recoverable resources to Peregrino field. The project entails investments of approximately USD 3,5 billion.