Sinochem Petróleo Brasil Limitada (hereinafter referred to as Sinochem Brazil) was Statoil Petróleo Brasil Limitada (hereinafter referred to as SPBL) originally. On April 14th 2011, Sinochem Group purchased 100% shares of SPBL. Headquartered in Rio de Janeiro, Brazil, Sinochem Brazil owns 40% of the interests in Block BM-C-7and another 40% interests in Block BM-C-47, both in Brazil. Peregrino offshore oilfield is situated in Block BMC-7 and Block BMC-47 which stand in the Campos Basin, 85km away from Brazil offshore. The oil field was put into operation on April 8th, 2011 and it is measured that its peak output will achieve 119 thousand barrels per day in 2016. In addition to Peregrino oilfield, these two blocks also have great exploration potential.