ExxonMobil and Equinor to up production in Brazil

BRASILIA, May 17, 2022 – ExxonMobil and Equinor plan to up production from the offshore Bacalhau oilfied in Brazil, Reuters announced today.

Plans include an additional drilling rig, a floating production platform and a more than 160-kilometre pipeline.

The first phase of the development involves a USD 380-million contract with Seadrill for drilling works over four years. The offshore rig contractor is to drill 19 wells with its ultra-deepwater drillship West Saturn.

The prospect has reserves of more than 1 million barrels and is Norwegian NOC Equinor’s largest development outside of Norway.

First oil from the project is planned for 2024 from a rig with a capacity of 220,000 bpd.

A new appraisal well is being considered in the northern area of the field in 2023.

Equinor and ExxonMobil both hold 40% shares in the asset, with Portuguese energy company Galp Energia’s subsidiary Petrogal Brasil holding the remaining 20% stake.

The field is the first pre-salt development in Brazil not connected to state-run Petroleo Brasileiro.

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