Brazil: Anadarko Receives More Peregrino Cash from Statoil

Anadarko Receives More Peregrino Oil Field Cash from Statoil

Anadarko Petroleum Corporation​ yesterday  announced it has received approximately $419 million from Statoil Brasil Oleo e Gas Ltda. to satisfy the contingent payment feature associated with the 2008 divestiture of Anadarko’s 50-percent working interest in the Peregrino oil field located in the Campos Basin offshore Brazil.

In December 2008, Anadarko closed the sale of its interest in the Peregrino field to Statoil for proceeds of approximately $1.4 billion plus future consideration contingent upon commodity prices.

“Beyond the initial value realized by the Peregrino transaction, this additional $419 million payment was achieved by structuring the divestiture to capture a portion of the future value of the asset,” said Al Walker, Anadarko President and Chief Operating Officer. “The value of this contingent pricing mechanism, which significantly exceeded the amount we anticipated at the time of the transaction, was aided by both the strength of Brent oil pricing and Statoil’s operational success in bringing the Peregrino field on line.”

The Peregrino field is located 85 km offshore Brazil in water depths of around 100 metres. Production from the field started in April 2011 and should reach its plateau of 100,000 bbl/day within the first year. It is the largest field that Statoil operates outside Norway.

Offshore Energy Today Staff, December 30, 2011; Image: Statoil

 

 

Share this article

Follow Offshore Energy Today

One thought on “Brazil: Anadarko Receives More Peregrino Cash from Statoil”

Comments are closed.

Events>

<< Apr 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

GeoConvention 2019

GeoConvention offers some of the best local and international insights to efficient energy exploration…

read more >

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Erbil International Oil & Gas Exhibition 2019

The event will be held at the Erbil International Fair Ground which is one of the largest energy related events in Iraq…

read more >

THE 24 th IRAN INTERNATIONAL OIL , GAS , REFINING & PETROCHEMICAL EXHIBITION

The second largest OPEC producer, Iran sits atop 11 percent of oil and 18 percent of gas…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply