Equinor Green Lights First Phase of Bacalhau Development Off Brazil

The host FPSO will be one of the largest in Brazil.

Bacalhau Phase 1 development.
Bacalhau Phase 1 development.

Equinor, along with partners ExxonMobil, Petrogal Brasil, and Pré-Sal Petróleo SA, will move forward with a planned $8-billion Phase 1 development of the Bacalhau field in the Brazilian pre-salt Santos area. The Bacalhau field is situated across two licenses, BM-S-8 and Norte de Carcará. The target resource is a high-quality carbonate reservoir containing light oil.

The development will consist of 19 subsea wells tied back to a floating production, storage, and offloading unit (FPSO) located at the field. The vessel will be one of the largest FPSOs in Brazil with a production capacity of 220,000 B/D of oil and 2 million bbl of 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.

The development plan was approved by the Brazilian National Agency of Petroleum, Natural Gas, and Biofuels (ANP) in March 2021.

First oil from the field is slated for 2024.