EQNR Equinor ASA

   By Dominic Chopping 
 

Norway's Statoil ASA (STO) said Friday it has submitted the Plan of Development for the Peregrino phase 2 project to the National Agency of Petroleum, Natural Gas and Biofuels in Rio de Janeiro.

The project entails a new well head platform and drilling rig and adds around 250 million barrels in recoverable resources to the Peregrino field. Investments will total around $3.5 billion, it said.

The company said a total of 21 wells - 15 oil producers and 6 water injectors - are planned to be drilled as part of the Phase II development.

Peregrino Phase II is expected to start production towards the end of the decade.

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @WSJNordics

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