Hydro, Anadarko to develop Brazil's Peregrino oil field

Uchenna Izundu
International Editor

LONDON, May 16 -- Hydro ASA and Anadarko Petroleum Corp. have received permission from the Agencia Nacional do Petroleo for plans to develop Peregrino oil field, which lies in 100 m of water about 85 km off Brazil.

Under a $2.5 billion investment plan, the field will be developed with a floating production, storage, and offloading vessel, two drilling platforms, 30 production wells, and seven water-injection wells. The partners are drilling a delineation well in the southwest extension of the field and expect to produce 100,000 b/d of oil by 2010 (OGJ Online, Apr. 2, 2007).

Maersk Contractors will lease and operate the FPSO and Kiewit Offshore Services Ltd. will supply the drilling platforms. An agreement also has been reached with Subsea 7 for the engineering, procurement, construction, and installation of the pipelines connecting the platforms to the ship, Hydro said.

Hydro said this will be its first Brazilian project.

Hydro and Anadarko each hold a 50% share in the project. Hydro is the operator during the project planning phase and Anadarko will assume operatorship during the project execution and operation phases.

Contact Uchenna Izundu at uchennai@pennwell.com

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