STATOIL AIMS FOR FIRST OIL FROM BRAZIL’S CARCARA IN 2023-2024

Norway’s Statoil aims to start production from Brazil’s Carcara oil discovery in 2023 or 2024, a company official said.

The discovery, where Statoil plans to drill one to three appraisal wells this year, could hold more than 2 billion barrels of oil equivalents, Jez Averty, Statoil’s exploration head for Britain and Norway said.

“We believe that this could be a very high-value asset. This has potential to be our (Johan) Sverdrup outside of Norway,” he told Reuters, referring to the large North Sea field Statoil is currently developing.

Partners in the Carcara license include Exxon Mobil and Portugal’s Galp.

Source: Reuters

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