Norwegian oil and gas company Equinor has extended the contract with the engineering and consulting firm Wood for the delivery of maintenance solutions across the Peregrino wellhead platforms (WHP) and FPSO, located offshore Rio de Janeiro, Brazil.
"This is the third one-year extension awarded to the team, with the contract initially secured in 2015 as a four-year commitment with four additional one-year options to extend," Wood said. It did not share financial details.
"Wood’s core team, consisting of approximately 140 people, will continue to provide maintenance solutions to optimize the assets. As Wood executes Equinor’s upcoming major Technical Condition Upgrade Project (TCUP) on the Peregrino assets, an additional 500 people will be mobilized to the team," Wood added.
Paul Leonard, Wood’s President for Operations in the Americas said: "We are well-positioned to extend our work with Equinor in the years to come as they continue to invest heavily in Brazil, with new developments. We are also committed to align with them in their pursuit of alternative energy sources, such as solar and wind, as we navigate the energy transition towards net-zero carbon emissions together.”
The Peregrino field is Equinor's largest international operation outside Norway. Phase Two of the project involves the addition of a third fixed wellhead platform to the field, extending its main productive life and adding 250-300 million barrels in recoverable reserves.
The Peregrino oil field is located in licenses BM-C-7 and BM-C-47, approximately 85 km offshore Brazil, in the Campos basin, in water depths of 100m. The second phase is expected to be developed at a cost of USD 3 billion and start production in 2022.
Equinor and Sinochem are joint field owners, with Equinor being the operator with a 60% interest in the asset. The concession period of the field extends until 2040.