On 15 October, Equinor and its partners ExxonMobil Brasil, Petrogal Brasil (JV Galp|Sinopec) and Pré-sal Petróleo SA (PPSA) achieved start-up of production from the large Bacalhau field in Brazil. With recoverable reserves exceeding 1 billion barrels of oil equivalent (boe), Bacalhau is the largest international offshore field ever developed by Equinor.
'The safe start-up of Bacalhau marks a major milestone for Equinor. Bacalhau represents a new generation of projects that bring together scale, cost-efficiency and lower carbon intensity. With this development, we are strengthening the longevity of our oil and gas production and securing value creation for decades to come,' says Anders Opedal, President and CEO of Equinor.
Bacalhau is located in the pre-salt region of Brazil's Santos Basin in ultra-deep water exceeding 2,000 metres. The field features one of the most modern Floating Production Storage and Offloading vessels (FPSO) in the world, measuring 370 metres in length and 64 metres in width, with a production capacity of 220,000 barrels of oil per day (bpd).
Phase 1 development consists of 19 wells, producers and injectors, which will be brought online in sequence as we ramp up and sustain production. Equinor will be positioned to provide an update in 2026 during the ramp-up phase.
'Around 70 million hours of work have been recorded in the project with solid safety results. I would like to sincerely thank our partners, suppliers, and employees for making this achievement a reality. With its size, water depth and lower carbon intensity, Bacalhau is a testament to our engineering capabilities and ability to operate internationally,' says Geir Tungesvik, Executive Vice President, Projects, Drilling and Procurement.
The Bacalhau FPSO features combined-cycle gas turbines (CCGT), a technology that significantly reduces carbon intensity. With an expected CO2 intensity of around 9 kg per boe, and advanced abatement across flaring, processing, power generation, and storage, the field sets a new benchmark for cost efficient and lower emission deepwater production.
'Brazil is a core area for us and Bacalhau will be a major contributorto Equinor’s goal of generating more than 5 billion dollars of free cashflow by 2030 from our international portfolio. Bacalhau will also deliver positive ripple effects and long-term benefits to Brazil´s economy, creating approximately 50,000 jobs over its 30-year lifetime,' says Philippe Mathieu, Executive Vice President for Exploration and Production International.
MODEC, the FPSO contractor, will operate the unit for the initial phase. Thereafter, Equinor plans to operate the Bacalhau facilities until end of the license period.
Facts – Bacalhau
- The Bacalhau discovery well was drilled by Petrobras in 2012
- Equinor took over as operator in 2016
- Bacalhau is the first field development in Brazil’s pre-salt to be developed by an international operator
- The field is located 185 km from the coast of the municipality of Ilhabela/SP, in the state of São Paulo, in water depths of above 2,000 meters
- Phase 1 reserves are > 1 billion barrels and with a production capacity of 220,000 boe/d
- The partners in Bacalhau: Equinor (40%, operator), ExxonMobil Brasil (40%), Petrogal Brasil (JV Galp|Sinopec) (20%) and Pré-Sal Petróleo S.A (PPSA – Government Company, PSA Manager).
Source: Equinor
