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Agreements With TechnipFMC and MODEC Inc. Mark a Crucial Stage in the Development of the BM-C-33 Project
May 11, 2023 – Equinor, representing the BM-C-33 license, along with its partners, Repsol Sinopec Brasil and Petrobras, announced two major contracts for the project. TechnipFMC was selected to deliver the SURF (subsea umbilicals, risers, and flowlines) scope, while MODEC Inc. will be responsible for delivering an FPSO (Floating Production, Storage, and Offloading Unit).
Partnership With Recognized Companies
Geir Tungesvik, Executive Vice President of Projects, Drilling & Procurement, expressed satisfaction at the celebration of these contracts with renowned companies for their expertise and quality. He emphasized the importance of these partnerships for the progress of the BM-C-33 project.
Tungesvik also highlighted the ongoing collaboration with TechnipFMC and mentioned confidence in the safe and efficient execution of projects, leveraging experiences between the BM-C-33 project and the Bacalhau project, also contracted with MODEC.
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Focus on Green Technology and Growth in Brazil
Veronica Coelho, President of Equinor in Brazil, described the BM-C-33 as a world-class asset in the Brazilian pre-salt of the Campos Basin. Equinor sees Brazil as a strategic area for growth and is committed to using technology to significantly reduce its emissions.
The BM-C-33 will aim for a carbon intensity target of less than 6kg per barrel of oil equivalent, in contrast to the global industry average of 16kg of CO2 per barrel.
MODEC and TechnipFMC: Contributing to the Future of BM-C-33
The delivery of the FPSO by MODEC, scheduled for 2027, will include engineering, procurement, construction, and installation of the unit. MODEC will also provide Equinor with FPSO operation and maintenance services during the first year of production.
On the other hand, Equinor activated an option in the basic engineering design contract with TechnipFMC, awarded in July 2022, to provide integrated engineering, procurement, construction, and installation for the SURF. The SURF system will be installed at a water depth of approximately 2,900 meters, the deepest installation in Equinor’s history.
Strategic Investment in the Brazilian Pre-Salt
With an investment of approximately US$ 9 billion, Equinor and its partners decided to develop the BM-C-33 project in the Brazilian pre-salt. The block is located in the Campos Basin, Brazil, about 200 km from the
coast, at a depth of up to 2,900 meters. The project contains natural gas and recoverable oil/condensates of more than 1.0 billion barrels of oil equivalent (boe).
Impact of the BM-C-33 Project on the Domestic Gas Market
The BM-C-33 project has the capacity to deliver 16 million cubic meters of gas per day, which could represent 15% of Brazil’s natural gas demand at the start of production. The FPSO capacity is approximately 126 thousand barrels per day, becoming a significant supplier for the domestic gas market, contributing to industrial development and local energy security.
Partners and Future Perspectives
The partners in the BM-C-33 project are Equinor, with 35% and project operator, Repsol Sinopec Brasil with 35%, and Petrobras with 30%. The discoveries were made by Repsol Sinopec in 2010, and Equinor became operator in 2016.
With the new contracts established with TechnipFMC and MODEC, the start of production for BM-C-33 is expected in 2028, marking an important milestone in Brazil’s energy development and Equinor’s ongoing pursuit of sustainability and efficiency in its global operations.
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