Equinor Studies Brazil's Coastline to Install New Natural Gas Infrastructure

Equinor Studies Brazil’s Coastline to Install New Natural Gas Infrastructure

Written by Paulo Nogueira

Published on 24/10/2019 at 13:56

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According to the President of the Norwegian Company, Equinor’s Carcará Natural Gas Field in Brazil Should Start Production in 2023 or the First Half of 2024.

In Brazil, Margareth Øvrum, President of the Norwegian oil company Equinor, stated that the company is looking for locations on the Brazilian coast for new natural gas facilities. The statement was made on Monday, October 21. Equinor’s Jacket Leaves the Shipyard for Brazil, and There Are Still Vacancies Available at the Norwegian Company.

At the same time that the company turns its attention to the megauction in November in the pre-salt, it is also preparing to put offshore fields with a large amount of gas into operation in the coming years.

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The development of infrastructure for exploration is part of Equinor’s plan to increase natural gas production in Brazil. “We are evaluating different opportunities to bring the gas to shore,” said the company’s president.

According to the president, the production area called “Pão de Açúcar” will start being explored next year. This region will be the first major field operated by a foreign company directed at natural gas to operate in Brazil.

According to Øvrum, Equinor’s Carcará natural gas field should start production in 2023 or the first half of 2024. “We were evaluating different opportunities to connect it to some nearby fields. But, it was very expensive, so it wouldn’t work,” the company’s president stated about the Carcará field.

Øvrum emphasized that the company intends to invest around US$ 15 billion in the country by 2030. In addition, the company is interested in the pre-salt megauction that will take place in November.

Regarding the offer, the president noted that the signing bonus is very high. However, she emphasized that the company is studying the potential profitability of the region compared to other locations in the world.

“You are competing with other opportunities, whether in Argentina, the Gulf of Mexico, Norway, or anywhere else. And you are not competing for volume, but for value,” Øvrum stated.

The Petrobras Established a Partnership with Equinor on October 9. This time, the activities between the two companies will focus on developing business in the natural gas sector.

According to the Brazilian state-owned company, in addition, the memorandum of understanding also includes thermal power generation projects and studies related to the operation of processing assets and liquid handling in units in Rio de Janeiro.

The Brazilian oil company and Equinor are already partners in the Roncador field and in the exploratory blocks BM-C-33, Dois Irmãos, and C-M-709, among other productive plants.

Equinor Studies Brazil’s Coastline to Install New Natural Gas Infrastructure

According to the President of the Norwegian Company, Equinor’s Carcará Natural Gas Field in Brazil Should Start Production in 2023 or the First Half of 2024.

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