Equinor starts production at billion-barrel field off Brazil

RIO DE JANEIRO, October 16, 2025 – Equinor has commenced production from its billion-barrel Bacalhau field offshore Brazil, the company said on Wednesday.

The field, located in the Santos Basin, holds over 1 billion boe in recoverable reserves and marks Equinor’s largest international offshore development. Bacalhau is operated by Equinor (40%) alongside ExxonMobil Brasil (40%), Petrogal Brasil (20%) and Pré-Sal Petróleo (PPSA).

Production is handled by a 370-metre-long FPSO with a capacity of 220,000 barrels of oil per day. Phase 1 includes 19 production and injection wells to be brought online sequentially through 2026.

“Bacalhau represents a new generation of projects that bring together scale, cost-efficiency and lower carbon intensity,” Equinor president and CEO Anders Opedal said.

With a water depth of over 2,000 metres, Bacalhau is one of Brazil’s most complex pre-salt projects. The FPSO features combined-cycle gas turbines, helping achieve an expected CO2 intensity of 9 kg per barrel.

“Bacalhau is a testament to our engineering capabilities and ability to operate internationally,” said Geir Tungesvik, executive vice-president for projects, drilling and procurement at Equinor.

The field is expected to generate approximately 50,000 jobs over its 30-year lifespan and contribute significantly to Equinor’s free cashflow goals.

MODEC is the FPSO contractor for the initial phase. Equinor will take over operations for the remainder of the licence period.

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