The Norwegian company had previously been awarded exploration licenses in two blocks, one of which it assumed 100% control of and took over operations in April 2004.
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Statoil's Expantion In Brazil
Norwegian state oil company Statoil plans to expand its activities in Brazil
Norwegian state oil company Statoil plans to expand its activities in Brazil to reach an output target of 100,000 barrels a day.
Statoil is also looking at new investment opportunities in neighboring Venezuela, Dow Jones news wires referring to Statoil's international exploration and production vice-president Peter Melbye.
Statoil has been awarded exploration licenses in eight offshore blocks in Brazil, including six obtained in the last licensing round in August 2004. It is operator in four of these blocks, one of which it owns 100%, and holds a 40% stake in the other three. Brazil's state energy company Petrobras works with Statoil in all the blocks.
The Norwegian company had previously been awarded exploration licenses in two blocks, one of which it assumed 100% control of and took over operations in April 2004.
The Norwegian company had previously been awarded exploration licenses in two blocks, one of which it assumed 100% control of and took over operations in April 2004.
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