Repsol Sinopec and Partners Invest in BM-C-33 Field to Boost Brazilian Gas Market

Consortium Invests US$ 9 Billion in BM-C-33 Field

Repsol Sinopec Brasil (35%), operator Equinor (35%), and Petrobras (30%) form the BM-C-33 consortium and announced the Final Investment Decision (FID) for the BM-C-33 field, located in the pre-salt of the Campos Basin in Brazil. With operations expected to start in 2028, the estimated total investment is approximately US$ 9 billion.

BM-C-33 Field and Its Importance for the Gas Market

The BM-C-33 field has recoverable reserves of natural gas and condensate exceeding 1 billion boe. The estimated flow capacity is 16 million cubic meters of gas per day, equivalent to the consumption of the entire State of São Paulo. The project has the potential to meet the growing demand for energy in Brazil and create value for society.

Innovative Technology and Sustainability in the Development of BM-C-33 Field

The field will be developed with an innovative concept in Brazil, using an FPSO (Floating Production Storage and Offloading unit) capable of processing the produced gas and specifying it for sale without additional processing onshore. Furthermore, the FPSO will employ combined cycle gas turbines that can significantly reduce the carbon emissions of the field, averaging less than 6 kg/boe throughout its lifespan, two-thirds less than the industry average.

Repsol Sinopec’s Contribution to the Brazilian Gas Market

Repsol Sinopec has played an important role in the gas market in Brazil, bringing its international experience. The company contributes to the development of an increasingly competitive national gas market and promotes local development, estimating the creation of 50,000 new direct and indirect job opportunities throughout the active cycle of the project.

Emission Reduction and Development of Offshore Technologies

The innovations employed in the BM-C-33 field have the potential to boost national gas production and the development of new technologies aimed at reducing emissions from offshore activities. The field is located approximately 200 km from the coast, in water depths of up to 2,900 m, characterized by a heterogeneous carbonate reservoir rich in silica with cavities, fractures, and formations called “vugs.”

Over 25 Years of Experience in Brazil

With over 25 years of operations in Brazil, Repsol Sinopec demonstrates its commitment to the sustainable development of the Brazilian energy market. A pioneer in opening the E&P market and in the exploration of the Brazilian pre-salt, the company is one of the largest oil producers.