Statoil has received formal approval to enter the São Bernardo discovery in Espírito Santo. The discovery further strengthens Statoil's belief in the oil potential in the basin.
On 19th March, Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (ANP) approved Statoil’s acquisition of Vale SA’s 25% equity in the BM-ES-22A concession in the Espírito Santo basin offshore Brazil.
The concession contains the São Bernardo oil discovery made in April 2013. The discovery strengthens Statoil’s position in the basin and the view of its prospectivity.
Two reservoir levels with 34 – 36 API oil were proven by the well. The discovery is currently being appraised by the drilling of the Montanhês well.