Norwegian company Statoil announced its Peregrino field offshore Brazil has surpassed the 100 million barrels of oil production milestone.
The recoverable reserves of the field, which is jointly owned with Chinese firm Sinochem, are estimated to be between 300 million and 600 million barrels.
The milestone was achieved on 2nd August after four years of production.
The field is said to be the largest operated by Statoil outside Norway and accounts for around 12% – or 270,000 barrels per day – of its international production.
According to the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (APN), Peregrino is currently the eight largest field in Brazil.