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A Representative of One of the Parties Supporting the Norwegian Government Wants Equinor Out of Brazil for Not Meeting Obligations Regarding the Amazon
The issue of wildfires in the Amazon continues to resonate across all sectors and has now reached offshore. A highly representative parliamentarian in the Norwegian parliament, who presides over the Energy and Environment Committee, stated yesterday (08/25) to the press that the Norwegian government should request Equinor to withdraw its investments from Brazil. Meanwhile, investments are proceeding as Equinor hires the floatel Safe Concordia for operations in Brazil.
The liberal politician Ketil Kjenseth, from one of the four parties supporting the government, wants this initiative to pressure the Brazilian government regarding the cessation of fires and deforestation in the Amazon.
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The Equinor has the Norwegian government as its largest shareholder (67%), and it was recently called Statoil. The company is one of the most prominent foreign firms in the Brazilian oil sector, particularly in the pre-salt area and solar energy investments.
Equinor operates the Peregrino field in the Campos Basin, which is the largest offshore project of the company outside Norway and where it will implement phase 2 of the asset that will increase production with the addition of another platform (WHP-C), which is being built in the U.S. and its jacket in the Netherlands.
Currently, Equinor produces between 90,000 to 100,000 barrels daily in Brazil, and the Norwegian company plans to produce between 300,000 to 500,000 barrels daily in the country by 2030, which will require investments of US$ 15 billion by 2030.
Additionally, heavy investments from the company are expected in the mega-auction of the surplus from the onerous assignment, scheduled for early November.
Despite the request from the chairman of the Energy and Environment Committee, Industry Minister Torbjørn Røe Isaksen believes the proposal will not resonate within the Norwegian government, as he thinks the Amazon issue must be resolved with actions and not boycotts.
Equinor has released a statement saying: “it does not get involved in political issues or decisions of countries. However, it emphasizes that Brazil is one of the company’s three main areas.”
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