In addition, StatoilHydro is also acquiring Anadarko’s 25% interest in the Kaskida discovery in deepwater US Gulf of Mexico.
For these assets StatoilHydro will pay Anadarko $1.8 billion, plus a maximum pre-tax value of $300 million related to the Peregrino field to be earned by 2020, conditional on future oil prices above pre-defined threshold levels.
The Peregrino field is located in the Campos Basin offshore Brazil. Expected reserves in this heavy oil field are estimated at approximately 500 million barrels, excluding identified upsides. The field is expected to come on stream in 2010, adding new production to StatoilHydro.
Peter Mellbye, StatoilHydro’s executive vice president for international exploration & production, said: This acquisition strengthens our position in Brazil and adds an important new legacy operatorship to StatoilHydro’s international portfolio. We are establishing leading positions in attractive core areas.
