Jeff Fick – The Wall Street Journal, 07/16/2012
RIO DE JANEIRO (Dow Jones)–Norwegian oil and natural gas giant Statoil ASA (STO) expects its Peregrino offshore oil field to reach plateau production of about 100,000 barrels a day by mid-August as two new wells start output in the coming weeks, the president of the company’s Brazilian operations said Monday.
Statoil suffered delays at Peregrino, the company’s largest offshore operation outside Norway, because of equipment troubles that affected completion of three wells, Statoil’s Kjetil Hove told Dow Jones Newswires in an interview. Peregrino currently produces about 75,000 barrels of heavy crude per day, Mr. Hove said.
“We are very close now to reaching plateau,” Mr. Hove said, pegging the likely time frame at three-to-four weeks.
