Equinor and ExxonMobil, Petrogal Brasil and Pré-sal Petróleo SA (PPSA) have decided to develop the first phase of the Bacalhau field in the Brazilian pre-salt Santos area.
Oil major Equinor is set to develop the Bacalhau oil field in Brazil in conjunction with its partners, ExxonMobil, Petrogal and PPSA.
“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 plan was approved by the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) in March 2021 and the first production is planned for 2024.
Bacalhau is situated across two licences, BM-S-8 and Norte de Carcará and contains a high-quality carbonate reservoir with light oil and minimal contaminants.
The company says plans may have to be adjusted to take into account the Covid-19 pandemic and relevant health and safety considerations.