ExxonMobil and Equinor to up production in Brazil

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.