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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

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honda0105 Champion Author Tallahassee Posts:18,632 Points:1,610,495 Joined:Nov 2008	Message Posted: Mar 2, 2012 4:57:28 AM Ignore honda0105 Report Abuse tomok: it does not change the price at the pump. No matter how much you drill.
tomok Champion Author Portland Posts:33,049 Points:2,346,485 Joined:Aug 2006	Message Posted: Mar 1, 2012 3:22:00 AM Ignore tomok Report Abuse 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 Posts:7,074 Points:1,628,200 Joined:Jun 2008	Message Posted: Feb 29, 2012 9:18:08 PM Ignore DrCashFlow Report Abuse Seriously deep drilling
pse91 All-Star Author Calgary Posts:640 Points:559,875 Joined:May 2011	Message Posted: Feb 29, 2012 1:04:09 PM Ignore pse91 Report Abuse Welcome to increasing the total world energy stock pile.
remay Champion Author Houston Posts:6,973 Points:2,118,590 Joined:May 2006	Message Posted: Feb 29, 2012 7:36:20 AM Ignore remay Report Abuse good for them.
numbers Champion Author North Dakota Posts:2,801 Points:850,040 Joined:Aug 2004	Message Posted: Feb 29, 2012 6:15:39 AM Ignore numbers Report Abuse Good
Dodge_Me Champion Author Atlanta Posts:2,214 Points:556,980 Joined:Mar 2006	Message Posted: Feb 28, 2012 11:38:53 PM Ignore Dodge_Me Report Abuse Good for them, maybe some will come our way
southrob Champion Author Tucson Posts:3,605 Points:689,150 Joined:Mar 2011	Message Posted: Feb 28, 2012 11:06:34 PM Ignore southrob Report Abuse there is a high impact discorevery in montana several years ago lets get it
Alaydown Champion Author Los Angeles Posts:5,121 Points:824,370 Joined:May 2007	Message Posted: Feb 28, 2012 11:05:21 PM Ignore Alaydown Report Abuse Unfortunately we cannot drill off of most of our coastline.
dmgas1 Sophomore Author Philadelphia Posts:122 Points:83,965 Joined:May 2011	Message Posted: Feb 28, 2012 11:01:59 PM Ignore dmgas1 Report Abuse So, that does what for the price of oil
ShutRBug Champion Author Ontario Posts:1,529 Points:654,440 Joined:Jun 2005	Message Posted: Feb 28, 2012 11:01:10 PM Ignore ShutRBug Report Abuse More oil. But prices will still climb.
ghmortensen Champion Author Minnesota Posts:1,997 Points:1,670,590 Joined:Jan 2007	Message Posted: Feb 28, 2012 10:59:36 PM Ignore ghmortensen Report Abuse DRILL - DRILL - DRILL
Blue48 Champion Author Illinois Posts:7,315 Points:1,639,895 Joined:Feb 2007	Message Posted: Feb 28, 2012 10:55:08 PM Ignore Blue48 Report Abuse GOOD NEWS FOR SOMEBODY!
kuma2000 Champion Author Honolulu Posts:3,228 Points:675,125 Joined:Jun 2011	Message Posted: Feb 28, 2012 10:54:19 PM Ignore kuma2000 Report Abuse what about the u.s.
jessek Champion Author Detroit Posts:2,657 Points:1,280,490 Joined:Sep 2008	Message Posted: Feb 28, 2012 10:54:09 PM Ignore jessek Report Abuse More oil found, who would of thunk it.
BooHooMI Champion Author Michigan Posts:1,556 Points:344,610 Joined:Sep 2010	Message Posted: Feb 28, 2012 10:53:51 PM Ignore BooHooMI Report Abuse yeah
stopforgas All-Star Author Mississippi Posts:996 Points:481,705 Joined:Jun 2011	Message Posted: Feb 28, 2012 10:50:22 PM Ignore stopforgas Report Abuse 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 Posts:695 Points:24,735 Joined:Feb 2012	Message Posted: Feb 28, 2012 10:49:38 PM Ignore CaptDave2012 Report Abuse 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 Posts:720 Points:192,945 Joined:Aug 2011	Message Posted: Feb 28, 2012 10:46:39 PM Ignore B_550i Report Abuse K
mstearno Champion Author Dayton Posts:8,075 Points:1,733,165 Joined:Jan 2008	Message Posted: Feb 28, 2012 10:46:38 PM Ignore mstearno Report Abuse lucky they don't have NOBAMA
OGW Champion Author London Posts:5,329 Points:1,532,975 Joined:Sep 2005	Message Posted: Feb 28, 2012 10:46:26 PM Ignore OGW Report Abuse 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 Posts:284 Points:561,970 Joined:Mar 2011	Message Posted: Feb 28, 2012 10:46:21 PM Ignore vtroger Report Abuse Do we really need to find more places to drill?
RAKARWOWSKI Champion Author Chicago Posts:4,005 Points:822,000 Joined:Jan 2011	Message Posted: Feb 28, 2012 10:44:06 PM Ignore RAKARWOWSKI Report Abuse Good for Brazil.
Ray_10589 Champion Author New York Posts:4,956 Points:1,184,935 Joined:May 2009	Message Posted: Feb 28, 2012 10:39:11 PM Ignore Ray_10589 Report Abuse Will it lower the price at the pump?
cateyes8264 Champion Author Tennessee Posts:2,957 Points:643,365 Joined:Jul 2011	Message Posted: Feb 28, 2012 10:36:07 PM Ignore cateyes8264 Report Abuse does us no good
TustinDad Champion Author Orange County Posts:4,300 Points:908,540 Joined:Feb 2008	Message Posted: Feb 28, 2012 10:31:55 PM Ignore TustinDad Report Abuse 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 Posts:5,540 Points:1,160,460 Joined:Sep 2009	Message Posted: Feb 28, 2012 10:25:02 PM Ignore carefrey Report Abuse Lets rock and roll!
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: Feb 28, 2012 10:21:57 PM Ignore tippybuddy Report Abuse Drill if it's going to help prices come down...anything that will help...
RADIOCANADA499 Champion Author Ontario Posts:2,346 Points:778,880 Joined:Aug 2005	Message Posted: Feb 28, 2012 10:19:12 PM Ignore RADIOCANADA499 Report Abuse good for them
BCM1 Champion Author Pennsylvania Posts:1,864 Points:782,995 Joined:Jun 2007	Message Posted: Feb 28, 2012 10:18:33 PM Ignore BCM1 Report Abuse Drill here! Drill now!
Ethan777OH Veteran Author Ohio Posts:270 Points:25,720 Joined:May 2011	Message Posted: Feb 28, 2012 10:18:21 PM Ignore Ethan777OH Report Abuse ok
Ethan777OH Veteran Author Ohio Posts:270 Points:25,720 Joined:May 2011	Message Posted: Feb 28, 2012 10:18:09 PM Ignore Ethan777OH Report Abuse Here we go again..
Kmankeith Veteran Author Rhode Island Posts:459 Points:366,655 Joined:Sep 2011	Message Posted: Feb 28, 2012 10:15:29 PM Ignore Kmankeith Report Abuse another big discovery any the price at the pump continues to rise
mrreferee Champion Author Savannah Posts:1,341 Points:558,605 Joined:Jun 2011	Message Posted: Feb 28, 2012 10:12:44 PM Ignore mrreferee Report Abuse I love a gas related story that mebtions PBR!!
BlueVanGroup Champion Author Colorado Posts:7,209 Points:1,529,470 Joined:May 2008	Message Posted: Feb 28, 2012 10:12:43 PM Ignore BlueVanGroup Report Abuse Since the rigs weren't needed in the Gulf of Mexico, they went to Brazil.
Thomtec Champion Author Nashville Posts:2,475 Points:610,095 Joined:May 2011	Message Posted: Feb 28, 2012 10:12:16 PM Ignore Thomtec Report Abuse OK
tidalwave3 Champion Author Tallahassee Posts:1,305 Points:1,464,545 Joined:Jun 2008	Message Posted: Feb 28, 2012 10:12:08 PM Ignore tidalwave3 Report Abuse Is this Nobama's oil that he sent rigs from Louisiana?
REKEY Champion Author South Carolina Posts:8,584 Points:1,700,390 Joined:May 2008	Message Posted: Feb 28, 2012 10:03:40 PM Ignore REKEY Report Abuse Oil is oil! Bet they charge the same as everyone else.
mcmonsta Champion Author Honolulu Posts:3,232 Points:819,520 Joined:Sep 2009	Message Posted: Feb 28, 2012 9:55:50 PM Ignore mcmonsta Report Abuse i guess not everyone wants to pay the middle east...hopefully it helps...hopefully
BKool Champion Author Michigan Posts:5,268 Points:1,901,280 Joined:Aug 2005	Message Posted: Feb 28, 2012 9:53:16 PM Ignore BKool Report Abuse Good for them, although I'm still steamed about Washington handing them our money.
iamforiu Champion Author Indiana Posts:3,580 Points:712,715 Joined:May 2011	Message Posted: Feb 28, 2012 9:53:04 PM Ignore iamforiu Report Abuse ok
OCTAPA Veteran Author Toronto Posts:493 Points:483,440 Joined:May 2011	Message Posted: Feb 28, 2012 9:52:11 PM Ignore OCTAPA Report Abuse OMG
Asbury09 Champion Author Iowa Posts:7,218 Points:1,531,280 Joined:Jan 2009	Message Posted: Feb 28, 2012 9:51:06 PM Ignore Asbury09 Report Abuse good for brazil
carman11 Champion Author North Carolina Posts:3,348 Points:693,675 Joined:Jun 2011	Message Posted: Feb 28, 2012 9:46:19 PM Ignore carman11 Report Abuse OK
VetteFan Champion Author Indiana Posts:9,744 Points:2,029,455 Joined:Aug 2005	Message Posted: Feb 28, 2012 9:45:43 PM Ignore VetteFan Report Abuse That is almost an insignificant amount of oil based on worldwide consumption.
reidlej Veteran Author Columbus Posts:403 Points:607,350 Joined:Jul 2011	Message Posted: Feb 28, 2012 9:43:39 PM Ignore reidlej Report Abuse YEA!
nwsynthetics Champion Author Oregon Posts:1,014 Points:347,025 Joined:Dec 2011	Message Posted: Feb 28, 2012 9:41:30 PM Ignore nwsynthetics Report Abuse good on discovery. Now get drilling
AKmailman Champion Author Alaska Posts:5,638 Points:1,559,290 Joined:Jul 2004	Message Posted: Feb 28, 2012 9:38:32 PM Ignore AKmailman Report Abuse discovery and production are two different things
mgune9 All-Star Author Dallas Posts:914 Points:200,395 Joined:Feb 2012	Message Posted: Feb 28, 2012 9:36:58 PM Ignore mgune9 Report Abuse i suppose our administration helped these folks drill off-shore there also?
GryphonX Champion Author Nevada Posts:6,105 Points:1,589,075 Joined:Nov 2007	Message Posted: Feb 28, 2012 9:35:46 PM Ignore GryphonX Report Abuse 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 ...?