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Statoil makes oil discovery in Brazil

Monday, 27 February 2012
Norwegian oil giant Statoil has made a major oil discovery in Brazil, described as jackpot.
The oil is found in Pao de Acucar prospect about 20 miles from Rio de Janeiro.

Statoil has had great expectations of the finding and believe it has a potential of 250 million barrels of oil equivalent.

Statoil has a 35 percent stake in the prospectus. Other shares are owned by Repsol Sinopec and Petrobras.
By Scancomark.se Team