Subsea Integration Alliance (SIA) partners Subsea7 and SLB OneSubsea have signed a contract with Equinor for the development of a concept study for the Phase 2 of the Bacalhau project, offshore Brazil.
The contract, for which the details have not been disclosed, was awarded following a competitive process.
The work will be carried out by teams from Subsea7’s UK offices and SLB OneSubsea in Norway, with essential support from Brazil.
“This achievement is the result of a collaborative, integrated effort by SIA’s partners reflecting all the experience we have gained throughout Bacalhau Phase 1,” said Olivier Blaringhem, Chief Executive Officer of Subsea Integration Alliance.
The Bacalhau field is located in the Santos Basin in two licenses - BM-S-8 and Norte de Carcará.
The asset has a high-quality carbonate reservoir containing light oil for which Equinor acquired the operatorship in 2016.
Bacalhau is the first project in the Brazilian pre-salt area to be entirely developed by an international operator and where Equinor uses its global competence and local expertise to generate value with low emissions.
The partners in Bacalhau are Equinor (40%, operator), ExxonMobil (40%), Petrogal Brasil (20%) and Pré-Sal Petróleo (PPSA contract manager for PSA).
In 2021, together with partners, Equinor announced the investment of approximately $8 billion for Bacalhau Phase 1, demonstrating our commitment to Brazil and supporting our strategic ambition to continue growing in the country as a relevant area for Equinor.
The project will feature MODEC-built Bacalhau floating production, storage and offloading (FPSO) unit, one of the largest FPSOs in Brazil. The ship is 370 meters long and 64 meters wide, with a production capacity of 220,000 barrels of oil per day. First oil is expected in 2025.
Bacalhau Phase 1 drilling campaign started in 2022 and comprises 19 wells. The field is situated in ultra-deep water with depths of more than 2000 meters and has a complex reservoir with 900 bar pressure, with over 1 billion of estimated recovery reserves.