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Equinor, The Largest Gas Supplier In Europe, Is Preparing To Increase Its Presence In The Energy Industry In Brazil With A Mega Gas Field In The Pre-Salt Of The Campos Basin.
With an investment of US$ 9 billion, the project includes Repsol Sinopec and Petrobras as partners and will be capable of producing 15% of the projected demand for gas in the country or supplying all the gas demand in São Paulo. The mega field, called BM-C-33, will start operations in 2028 and is the deepest water field to be developed in the country, at a water depth of 2,900 meters.
Veronica Coelho, president of Equinor Brazil, states that the project will be the first in Brazil to use offshore gas processing, which will reduce costs and streamline operations. The company’s strategy in the country is long-term, aiming to maximize 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 an FPSO (floating production, storage, and offloading unit), which will have a condensate oil processing plant with a processing capacity of 125,000 barrels per day. Additionally, Equinor will have a gas processing plant on the offshore production platform, which will allow the gas to be transported to shore without the need for a Natural Gas Processing Unit on land.
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Veronica Coelho highlights that the industry relies on building mutual trust, especially due to the tax on oil exports announced by the government with a four-month deadline. She believes that BM-C-33, when in production, will not be affected by the 9.2% taxation proposed by the government.
Equinor Is Interested In Bringing Its Renewable Energy Experience To The Country And Is Building A Second Solar Plant In Rio Grande Do Norte.
The company is seeking more projects that are competitive in terms of cost and price, with the ambition to invest 50% of all in renewable energy by 2030.
The company has also brought to the country a trading company that sells energy in 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 utilizing the local market that is competitive in terms of timing and price to maximize local value generation at all stages of the project.
The BM-C-33 is an ambitious project that will bring significant benefits to Brazil and, according to Veronica Coelho, reinforces Equinor’s presence in the country, which is permanent due to the credibility and trust that the company has in the country regarding legal and contractual security, predictability, and stability of regulations. Brazil is already among the three largest international markets for the Norwegian company, demonstrating the importance and potential of the Brazilian market in the energy industry.
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