Equinor decides to postpone the start of production at the Campo de Bacalhau project, in the Santos Basin pre-salt, to 2025 due to schedule delays caused by the Covid-19 pandemic

Delays in oil and gas exploration projects in the Brazilian pre-salt are due to the impacts of the Covid-19 pandemic. Equinor announced the postponement of production at Campo de Bacalhau, in the Santos Basin, to 2025.

The oil and gas company Equinor is facing problems to maintain its schedule of projects planned for the coming years. After the impacts of the Covid-19 pandemic on its operations, the company announced the postponement of project Campo de Bacalhau, located in the Santos Basin pre-salt. Now, the start of production should only happen in the year 2025, as announced by the oil company.

Santos Basin: discover the pre-salt cradle

Delays in Equinor's project schedule lead to the postponement of production in the Campo de Bacalhau pre-salt to the year 2025

After more than 2 years since the beginning of the Covid-19 pandemic, the global industry is still moving towards a normalization of operations.

Over the first few years since the discovery of the virus, the impacts on oil and gas were significant, causing the suspension and even the stoppage of some important campaigns in the Brazilian territory.

Now, another important player in the oil and gas market announces the postponement of one of its undertakings. Equinor is expected to start production at Campo de Bacalhau only in 2025, due to delays in its schedule.

The data on the postponement of the project in the Santos Basin pre-salt were released by the company's president, Anders Opedal.

He highlighted that the pandemic significantly affected Equinor's operations and its project plan for the coming years, including production at Campo de Bacalhau.

Now, the company continues to move to recover the deadlines lost in recent years.

I think all projects have been hurt by covid-19 and not just shipyards in Asia but all over the world and also in Norway. We are recovering from that now. And Geir [Tungesvik, Vice President of Design, Drilling and Procurement] and his team are making very good progress. We are on schedule with the Castberg project [in Norway], but the Bacalhau project in Brazil will be delivered in 2025”, said Opedal during a conference with the company's investors.

Santos Basin pre-salt project, production at Campo de Bacalhau, is Equinor's largest international venture

Production in Campo de Bacalhau is a project operated by Equinor (40%), in partnership with ExxonMobil (40%) and Petrogal (20%).

In addition, the state-owned Pré-Sal Petróleo SA (PPSA) also participates in the consortium, as manager of the sharing contract.

This is the first production project in the national pre-salt developed by a multinational company, guaranteeing even more eyes for the high potential of the Santos Basin region in Brazil.

At the end of 2022, Equinor started its drilling campaign in Campo de Bacalhau to continue the project.

It has the objective of continuing with two production stages in the area, but it still suffers from the consequences of the delays in its schedule.

This is because the oil industry has been living together since the recovery of the sector's activities after the 2020 price shock. Several companies have abandoned projects over the last few years.

However, even with the postponement of production at Campo de Bacalhau, Equinor continues with its planning for the pre-salt project in the Santos Basin.

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