Fossil energy – development
The investment is approximately 8 billion USD.
“This is an exciting day. Bacalhau is the first greenfield development by an international operator in the pre-salt area and will create great value for Brazil, Equinor and partners. Good cooperation with partners, Brazilian authorities and suppliers has resulted in an investment decision for the Bacalhau field,” says Arne Sigve Nylund, Equinor’s executive vice president for Projects, Drilling and Procurement.
The development plan was approved by the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) in March 2021.
“Bacalhau is an important step towards the realization of our strategic ambition to deepen our presence in Brazil. It is also an important project for the country, as it represents significant investments, ripple effects in the supply chain and local job creation,” says Veronica Coelho, Equinor’s country manager in Brazil.
First oil is planned in 2024. Due to the COVID-19 pandemic and related uncertainties, project plans may be adjusted in response to health and safety restrictions.
The development will consist of 19 subsea wells tied back to a floating production, storage and offloading unit (FPSO) located at the field. This will be one of the largest FPSOs in Brazil with a production capacity of 220,000 barrels per day and two million barrels in storage capacity. The stabilized oil will be offloaded to shuttle tankers and the gas from Phase 1 will be re-injected in the reservoir.
The FPSO contractor will operate the FPSO for the first year. Thereafter, Equinor plans to operate the facilities until the end of the license period.
MAIN CONTRACTS AWARDED
Front End Engineering and Design (FEED) and engineering, procurement, construction and installation (EPCI) contracts: Subsea Integration Alliance (formed by Subsea7 and OneSubsea):
MODEC Inc for FPSO (Floating Production, Storage and Offloading) contracts.
Mobile Drilling Unit contracts: Seadrill Management S PTE Ltd, West Saturn drillship
Drilling and Well Service contracts: Baker Hughes do Brasil, Halliburton Produtos, Schlumberger Serviços de Petróleo.