Norwegian oil and gas company Equinor (formerly known as Statoil) expects to invest US$15bn in its Brazilian assets until 2030, while US$10bn have already been invested since 2001. Equinor's assets in Brazil comprise the producing Peregrino field (85 km off Rio de Janeiro) and the second phase of the Roncador project, due to come onstream in 2020 and in which Equinor holds a 25% share.
Equinor's current production in Brazil reaches 90,000 boe/d and could be raised to 300,000-500,000 boe/d by 2030. Besides, the company owns 17 exploration blocks. In the 4th oil and gas PSC round which took place in June 2018, Equinor won interests in the Uirapuru and Dois Irmãos PSCs. In June 2018, the company also purchased a 25% non-operated interest in the 240,000 bbl/d Roncador offshore oil field from the Brazilian state-run oil and gas company Petrobras for a total consideration of US$2bn.
Equinor is also building the 162 MW Apodi solar project in Quixeré (Ceará State), in which it holds a 40% interest. The electricity will be sold via a 20-year power purchase agreement (PPA), awarded in 2015, in the wake of an auction organised by the Brazilian government with an offtake price equivalent to US$104/MWh in 2017.