SCF and STATOIL begin cooperation on Peregrino (Brazil) oil shipments

On 9 August 2011, the SCF Novoship-owned crude oil tanker Adygeya finished loading crude oil from the Peregrino field in Brazil which is operated by Statoil. This event marks the start of new cooperation between the two companies.

For Statoil, owner of a 60 per cent shareholding in Peregrino and operator of the field, it has become the largest oilfield operated outside the continental platform of Norway. The oil-major paid significant attention to the selection of shippers to be involved with the project. SCF Group, a long-standing strategic partner of Statoil, has become one of only two shipping companies to meet the high and specific requirements of the project.

Development of the details surrounding SCF’s participation in oil shipments from the Peregrino field started with Statoil in 2009. The resulting agreement foresees the chartering of up to six ships from SCF Group, when the project reaches its full capacity. SCF will provide shipping for half of the oil produced using its Aframax-type ships, on the basis of time-charter agreements for 3 to 5 years.

Peregrino crude oil has some special characteristics with implications for its transportation. In particular, it is a very heavy crude with the maximum possible viscosity, and requires heating for loading and subsequent transportation. The cargo requires additional attention from the tanker’s crew: transshipment and sea transportation is fulfilled at a temperature of 70 degrees C. To provide the highest levels of safety and prevent possible environmental risks during transportation from Peregrino oilfield, Sovcomflot and Statoil plan to establish a working group to resolve any technical and commercial questions arising, in the most efficient way.

Notes for Editors:

The Peregrino oil field is situated on the coast of Brazil, 85 km east of Rio de Janeiro. It was discovered in 1994 and the production of oil started in April 2011. At this point, estimated recoverable resources are in the range of 300 – 600 million barrels of oil. The production should reach its plateau of 100,000 bbl/day within the first year.