Oil & Energy - , ,
In May 2010, Sinochem as a non-operator acquired 40% working interest of the Brazilan Peregrino oil field from Statoil Asa. The Peregrino oil field is a heavy oil field located in waters of 100-120 meters offshore Brasil. It is being developed through FPSO+production platform. The project was officially put into production in April 9,2011. Looking forward, Sinochem E&P will heighten its exploration at its existing project in Brazil. With the oilfield production to gradually stabilize, we anticipate to raise its peak production to over 100,000 BOPD..