By OGJ editors
HOUSTON, May 15 -- Statoil ASA and Royal Dutch/Shell have concluded an agreement whereby Statoil will acquire a 25% interest in Block BM-C-10 off Brazil. Shell will retain 40% of the block, while the German firm Wintershall AG holds 35%.
The license, in a little-explored deepwater area off Rio de Janeiro, covers 1,921 sq km and is close to the productive part of the Campos basin. The first wildcat on the block, 1-Shell-14-RJS, was spudded Apr. 25 and is targeted at a potential oil prospect.
"Since the block lies in 2,900 m of water, it will give us experience (in) exploration drilling in such depths and with new drilling technology," said Tony Dore, Statoil's vice-president for the Americas unit of global exploration in the International Exploration & Production business area.
The agreement is dependent on approval by the Brazilian petroleum directorate, Agência Nacional do Petróleo.
