The Norwegian state-owned energy company Equinor and its partners have achieved first oil production from the Bacalhau field located in Brazil’s Santos Basin. The development involves a Floating Production Storage and Offloading (FPSO) vessel capable of producing 220 kb/d. During the first phase, 19 wells will be brought online gradually throughout the ramp-up period, with an operational update expected in 2026.
MODEC, the FPSO contractor, will manage the unit during the initial phase, after which Equinor plans to operate the Bacalhau facilities until the end of the license period in 2053. Bacalhau, which boasts recoverable reserves exceeding 1 Gboe, is described by Equinor as its largest international asset.
The Bacalhau project is operated by Equinor, which holds 40%, alongside ExxonMobil Brasil (40%), Petrogal Brasil (joint venture between Portugal’s Galp and China’s Sinopec, 20%), and Pré-Sal Petróleo S.A.
In addition to Bacalhau, Equinor operates the Raia development in Brazil, another ultra-deepwater field with recoverable reserves estimated at around 1 Gboe, which is expected to commence production in 2028.