Equinor ASA has secured new exploration acreage offshore Brazil within the Santos Basin, awarded below the nation’s fifth Open Everlasting Concession bidding.
The S-M-1617 license is close to an present Equinor block, S-M-1378, “an space with robust potential that we will leverage to strengthen our place within the Santos basin”, Veronica Coelho, Equinor senior vice chairman and Brazil supervisor, mentioned in an internet assertion. “This award gives us with longevity choices for Brazil and demonstrates our steady dedication and urge for food to develop within the nation”.
“Equinor will now work to conduct mandatory geological and geophysical assessments for future exploration actions”, the Norwegian majority state-owned vitality main mentioned.
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S-M-1617 is 400 kilometers (248.55 miles) off the coast in waters round 2,600 meters (8,530.18) deep, based on Equinor.
Equinor is the only proprietor. It mentioned it had paid the federal government a signature bonus of round BRL 30.5 million ($5.55 million).
Elsewhere within the Santos Basin, Equinor expects to begin manufacturing on the Bacalhau discipline this 12 months. The event will produce as much as 220,000 barrels per day (bpd). It has an amassed manufacturing potential of over one billion barrels of oil equal (Bboe) based on Equinor.
Bacalhau straddles two licenses: BM-S-8 and Norte de Carcara. Equinor operates Bacalhau with a 40 % stake. Exxon Mobil Corp. owns 40 % and Petrogal Brasil SA holds 20 %.
In one other Brazilian basin, Campos, Equinor goals to attain manufacturing on the Raia gasoline venture in 2028. Equinor expects the venture to have a pure gasoline export capability of 16 million customary cubic meters a day. Raia, which accommodates the Pao de Açucar, Gavea and Seat and discoveries, has an amassed manufacturing potential of a couple of Bboe based on Equinor.
Equinor operates Raia with a 35 % curiosity. Repsol Sinopec Brasil SA additionally owns 35 %. State-owned Petroleo Brasileiro SA owns 30 %.
Equinor, nevertheless, is exiting one other Campos Basin discipline, Peregrino. It introduced Could 2 a deal to divest its 60 % working stake within the producing discipline to Prio SA for $3.5 billion.
Having acquired Sinochem Holdings Corp. Ltd.’s 40 % possession final 12 months, Prio would grow to be the only proprietor.
Put onstream 2011, Peregrino’s productive life has been prolonged to 2040 with the startup of part 2 in 2022. The heavy oilfield produces about 110,000 bpd. Peregrino produced 250 million barrels from start-up to 2024, based on data on Equinor’s web site.
“Brazil will proceed to be a core nation for Equinor, as we give attention to beginning up the Bacalhau discipline and proceed progressing the Raia gasoline venture”, Philippe Mathieu, Equinor government vice chairman for exploration and manufacturing worldwide, mentioned then. “With these two operated tasks and our partnership in Roncador [producing field] our fairness manufacturing in Brazil shall be near 200,000 barrels per day by 2030.
“This deal is a part of Equinor’s ongoing effort to high-grade its worldwide portfolio by way of asset divestments and acquisitions. We proceed to see progress potential and alternatives to increase the longevity of our worldwide oil and gasoline portfolio, additionally in Brazil”.
To contact the writer, electronic mail jov.onsat@rigzone.com
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