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Statoil Confirms High-impact Discovery Offshore Brazil

Dow Jones Newswires --
Norwegian oil company Statoil ASA (STO) confirmed Monday it has made a high-impact discovery offshore Brazil, together with operator Repsol Sinopec and partner Petrobras (PBR).

The discovery was made in the Pao de Acucar prospect, about 195 kilometers offshore Rio de Janeiro State at a water depth of 2,800 meters.

A test flowed 5,000 barrels a day of light oil and 28.5 million cubic feet a day of natural gas.

This is the third discovery in the BM-C-33 block, and "confirms the area's high potential," Statoil said in a statement.

Repsol Sinopec is the operator of the exploration consortium with a 35% stake. Statoil holds a share of 35% and Petrobras holds 30%. Repsol Sinopec is a alliance between Spain's Repsol YPF SA (REP.MC) and China's Sinopec (SHI).


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Submitted Feb 28, 2012 By: RENEGADEGAS
Category: Daily News Article Discussions > Topics Add to favorite topics  
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REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

Posts:24,291
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Message Posted: Mar 2, 2012 4:57:28 AM

tomok: it does not change the price at the pump. No matter how much you drill.
tomok
Champion Author Portland

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Message Posted: Mar 1, 2012 3:22:00 AM

Statoil Confirms High-impact Discovery Offshore Brazil, more oil for the world. Get that oil out of the ground and to market.
The price of fuel at the pump is too high!
12/22/2012!
DrCashFlow
Champion Author Massachusetts

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Message Posted: Feb 29, 2012 9:18:08 PM

Seriously deep drilling
pse91
All-Star Author Calgary

Posts:641
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Message Posted: Feb 29, 2012 1:04:09 PM

Welcome to increasing the total world energy stock pile.
remay
Champion Author Houston

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Message Posted: Feb 29, 2012 7:36:20 AM

good for them.
numbers
Champion Author North Dakota

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Message Posted: Feb 29, 2012 6:15:39 AM

Good
Dodge_Me
Champion Author Atlanta

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Message Posted: Feb 28, 2012 11:38:53 PM

Good for them, maybe some will come our way
southrob
Champion Author Tucson

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Message Posted: Feb 28, 2012 11:06:34 PM

there is a high impact discorevery in montana several years ago lets get it
Alaydown
Champion Author Los Angeles

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Message Posted: Feb 28, 2012 11:05:21 PM

Unfortunately we cannot drill off of most of our coastline.
dmgas1
Sophomore Author Philadelphia

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Message Posted: Feb 28, 2012 11:01:59 PM

So, that does what for the price of oil
ShutRBug
Champion Author Ontario

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Message Posted: Feb 28, 2012 11:01:10 PM

More oil. But prices will still climb.
ghmortensen
Champion Author Minnesota

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Message Posted: Feb 28, 2012 10:59:36 PM

DRILL - DRILL - DRILL
Blue48
Champion Author Illinois

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Message Posted: Feb 28, 2012 10:55:08 PM

GOOD NEWS FOR SOMEBODY!
kuma2000
Champion Author Honolulu

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Message Posted: Feb 28, 2012 10:54:19 PM

what about the u.s.
jessek
Champion Author Detroit

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Message Posted: Feb 28, 2012 10:54:09 PM

More oil found, who would of thunk it.
BooHooMI
Champion Author Michigan

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Message Posted: Feb 28, 2012 10:53:51 PM

yeah
stopforgas
Champion Author Mississippi

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Message Posted: Feb 28, 2012 10:50:22 PM

I guess the republicanoilconglomerates will find a way to make billions off of it and gouge the US consumer again.
CaptDave2012
All-Star Author Arkansas

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Message Posted: Feb 28, 2012 10:49:38 PM

More nat gas. When are we going to begin retrofitting our domestic fleet to nat gas? When? Maybe IF is the better answer. The transition must begin someday. Really.
B_550i
All-Star Author Seattle

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Message Posted: Feb 28, 2012 10:46:39 PM

K
mstearno
Champion Author Dayton

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Message Posted: Feb 28, 2012 10:46:38 PM

lucky they don't have NOBAMA
OGW
Champion Author London

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Message Posted: Feb 28, 2012 10:46:26 PM

As more world oil reserves are revealed they can cause a lowering of world prices as more supply sources are available.
vtroger
Veteran Author Vermont

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Message Posted: Feb 28, 2012 10:46:21 PM

Do we really need to find more places to drill?
RAKARWOWSKI
Champion Author Chicago

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Message Posted: Feb 28, 2012 10:44:06 PM

Good for Brazil.
Ray_10589
Champion Author New York

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Message Posted: Feb 28, 2012 10:39:11 PM

Will it lower the price at the pump?
cateyes8264
Champion Author Tennessee

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Message Posted: Feb 28, 2012 10:36:07 PM

does us no good
TustinDad
Champion Author Orange County

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Message Posted: Feb 28, 2012 10:31:55 PM

toadNY wrote: "Didn't Bush give them 2 Billion US tax Payers money?"

It wasn't Bush, it was the Ex-Im Bank and it was not a gift, it was a loan.
carefrey
Champion Author Orlando

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Message Posted: Feb 28, 2012 10:25:02 PM

Lets rock and roll!
tippybuddy
Champion Author Ontario

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Message Posted: Feb 28, 2012 10:21:57 PM

Drill if it's going to help prices come down...anything that will help...
RADIOCANADA499
Champion Author Ontario

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Message Posted: Feb 28, 2012 10:19:12 PM

good for them
BCM1
Champion Author Pennsylvania

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Message Posted: Feb 28, 2012 10:18:33 PM

Drill here! Drill now!
Ethan777OH
Veteran Author Ohio

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Message Posted: Feb 28, 2012 10:18:21 PM

ok
Ethan777OH
Veteran Author Ohio

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Message Posted: Feb 28, 2012 10:18:09 PM

Here we go again..
Kmankeith
All-Star Author Rhode Island

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Message Posted: Feb 28, 2012 10:15:29 PM

another big discovery any the price at the pump continues to rise
mrreferee
Champion Author Savannah

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Message Posted: Feb 28, 2012 10:12:44 PM

I love a gas related story that mebtions PBR!!
BlueVanGroup
Champion Author Fort Collins

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Message Posted: Feb 28, 2012 10:12:43 PM

Since the rigs weren't needed in the Gulf of Mexico, they went to Brazil.
Thomtec
Champion Author Nashville

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Message Posted: Feb 28, 2012 10:12:16 PM

OK
tidalwave3
Champion Author Tallahassee

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Message Posted: Feb 28, 2012 10:12:08 PM

Is this Nobama's oil that he sent rigs from Louisiana?
REKEY
Champion Author South Carolina

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Message Posted: Feb 28, 2012 10:03:40 PM

Oil is oil! Bet they charge the same as everyone else.
mcmonsta
Champion Author Honolulu

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Message Posted: Feb 28, 2012 9:55:50 PM

i guess not everyone wants to pay the middle east...hopefully it helps...hopefully
BKool
Champion Author Michigan

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Message Posted: Feb 28, 2012 9:53:16 PM

Good for them, although I'm still steamed about Washington handing them our money.
iamforiu
Champion Author Indiana

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Message Posted: Feb 28, 2012 9:53:04 PM

ok
OCTAPA
Champion Author Toronto

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Message Posted: Feb 28, 2012 9:52:11 PM

OMG
Asbury09
Champion Author Iowa

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Message Posted: Feb 28, 2012 9:51:06 PM

good for brazil
carman11
Champion Author North Carolina

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Message Posted: Feb 28, 2012 9:46:19 PM

OK
VetteFan
Champion Author Indiana

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Message Posted: Feb 28, 2012 9:45:43 PM

That is almost an insignificant amount of oil based on worldwide consumption.
reidlej
Champion Author Columbus

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Message Posted: Feb 28, 2012 9:43:39 PM

YEA!
nwsynthetics
Champion Author Oregon

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Message Posted: Feb 28, 2012 9:41:30 PM

good on discovery. Now get drilling
AKmailman
Champion Author Alaska

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Message Posted: Feb 28, 2012 9:38:32 PM

discovery and production are two different things
mgune9
All-Star Author Dallas

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Message Posted: Feb 28, 2012 9:36:58 PM

i suppose our administration helped these folks drill off-shore there also?
GryphonX
Champion Author Nevada

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Joined:Nov 2007
Message Posted: Feb 28, 2012 9:35:46 PM

Seems like there's a lot more oil out there than we thought ...

I wonder if we'll need to revise the peak oil date ...?
theschmuck
Champion Author Michigan

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Message Posted: Feb 28, 2012 9:32:39 PM

If they bring in the wells, they'll be just as greedy as the rest and will sell to whomever pays the most.
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