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Equinor invests US$ 9 billion in gas megafield in the Campos Basin pre-salt, forecast to meet 15% of gas demand in Brazil

Written by Bruno Teles
Published 08/05/2023 às 13:52
Equinor invests US$ 9 billion in gas megafield in the Campos Basin pre-salt, forecast to meet 15% of gas demand in Brazil
Photo: Project BM-C-33

Equinor, Europe's largest gas supplier, is preparing to increase its presence in Brazil's energy industry, with a gas megafield in the Campos Basin pre-salt.

With an investment of US$ 9 billion, the project has Repsol Sinopec and Petrobras as partners and will be able to produce 15% of the expected demand for gas in the country or supply all gas demand in São Paulo. The megafield, called BM-C-33, will start operating in 2028 and is the deepest water field to be developed in the country, with a water depth of 2.900 meters.

Veronica Coelho, president of Equinor Brazil, says that the project will be the first in Brazil to have the gas processed on the high seas, which will reduce costs and speed up the operation. The company's strategy in the country is long-term, with the aim of maximizing the use of renewable energy and low-carbon solutions to lead the energy transition process.

BM-C-33 is a relevant project to ensure the country's energy security and has a capacity of 16 million cubic meters of gas per day.

All wells will be connected to the FPSOs (platform ship), which will have a condensate oil treatment plant, with an oil processing capacity of 125 barrels per day. In addition, Equinor will have a gas processing plant on the offshore production (at sea), which will allow the gas to be offloaded to land without the need for a Natural Gas Processing Unit on land.

Veronica Coelho points out that the industry relies on building mutual trust, especially due to the tax on oil exports announced by the government with a deadline of four months. She believes that the BM-C-33, when it is in production, will not be affected by the 9,2% tax proposed by the government.

Equinor is interested in bringing its renewable energy expertise to the country and is building a second solar plant in Rio Grande do Norte.

The company is looking for more projects that are competitive from a cost and price point of view, with the ambition of investing 2030% of everything in renewable energy.

The company also brought a trading company to the country, which sells energy on the free market, indicating a more concrete and robust entry into this market. The national industry is competitive in various parts, equipment and services required in a project of this nature, and Equinor has a policy of using the local market that is competitive in terms of time and price to maximize the generation of local value in all phases of the project. project.

O BM-C-33 it is an ambitious project that will bring significant benefits to Brazil and, according to Veronica Coelho, it reinforces Equinor's presence in the country, which is permanent due to the credibility and trust that the company has in the country in relation to legal and contract security, predictability and stability of the rules. Brazil is already among the three largest international markets for the Norwegian company, which shows the importance and potential of the Brazilian market in the energy industry.

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Bruno Teles

I talk about technology, innovation, oil and gas. I update daily about opportunities in the Brazilian market. With more than 3.000 articles published in CPG. Agenda suggestion? Send it to brunotelesredator@gmail.com

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