Equinor Submits Plans for $9 Billion Field Projects Offshore Brazil

Norwegian energy company Equinor has announced the commercial viability and submitted development plans for two major offshore oil and gas fields in Brazil’s Campos Basin.

The fields, named Raia Manta and Raia Pintada, have the potential to meet 15% of Brazil’s total gas demand and generate up to 50,000 local jobs.

Equinor is the operator and holds a 35% stake in the two fields in the BM-C-33 area, along with consortium partners Repsol Sinopec Brasil and Petrobras. Equinor has submitted declarations of commerciality and plans of development to ANP (Agência Nacional de Petróleo, Gás Natural e Biocombustíveis).

The total investment for developing the projects is estimated to be approximately US $9 billion.

The fields are located about 200 kilometers from Rio de Janeiro and contain more than one billion barrels of oil equivalent of recoverable natural gas and oil/condensate in water depths up to 2,900 meters.

Equinor plans to develop the fields with a floating production storage and offloading unit (FPSO) that can process gas and oil/condensate without onshore processing. The FPSO will have a production capacity of 16 million cubic meters of gas per day, with expected exports of 14 million cubic meters of gas per day.

The fields will be the first in Brazil to treat offshore gas and connect it directly to the national grid without onshore processing. Sales gas will be exported through an offshore gas pipeline to Macaé, Rio de Janeiro, while liquids will be offloaded by shuttle tankers.

Equinor says the fields will have low carbon intensity thanks to the use of combined cycle gas turbines on the FPSO, which utilize excess heat to improve efficiency and reduce emissions. Lifetime average CO2 intensity from the fields is estimated to be below 6 kilograms per barrel of oil equivalent.

“The fields are a strategic fit for Equinor’s ambitions in a country where we have a solid history and an intention to further strengthen our presence. Together with our partners, we will employ additional expertise to ensure safe and efficient execution of these developments” says Trond Bokn, senior vice president for Project development.

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