Brazil is not new territory for Statoil, which currently holds a 60 per cent stake and operator status at the Peregrino field some 85km off the coast of Rio de Janeiro. Formerly known as the Chinook field, Peregrino has an estimated 2.3 billion barrels in reserve. First oil was achieved in April 2011 and represents Statoil’s largest international reserve. In addition, Statoil holds interests in a number of locations in the deepwater areas of Brazil, including the Campos and Santos basins. ....

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