StatoilHydro pays Anadarko 1.8 Billion Dollar for the remaining 50% of the Brazilian Peregrino project and 25% of Kaskida discovery in Gulf of Mexico. This is according to StatoilHydro;s message to the Stock Exchange market today.
After this purchase StatoilHydro will completely control the Brazilian project.
In addition there is a compensation of up to 300 Million Dollar before tax associated with the Peregrino field within year 2020.
Total investment value is around 2.1 Billion Dollar for this.
Estimated reserves from the heavy oil project Peregrino where StatoilHydro will be the operator is around 500 Million barrels of oil exclusive of any potential upside from the field area.
The field is expected to be in production in year 2010 and will according to the company produce around 100.000 barrels pr day.
After this purchase we strengthen our position in Brazil and it gives us an important international operatorship. We establish a leading position in attractive core areas, something which is in line with the strategy we presented to the capital market in January this year which signaled a focus on deep water and heavy oil, says president for international exploration and production Peter Mellbye in the stock market message given.
Kaskida is one of the larger deep sea discoveries made in the Gulf of Mexico in the latest years. BP is the operator with a share of 55% and Devon is a partner with owner interest of 20%.
Mellbye says that the Kaskida discoery has siginifcant resource potential, and by contributing with our deep sea technology, we will provide further potential value to the discovery.
Both transactions are dependant upon approval from the authorities. In addition the other partners in Kaskida project has right to purchase first within 30 days of offer made from StatoilHydro.