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After investing more than US$11 billion, Equinor celebrates 20 years of operations in Brazil

09/10/2021 | 16h45
After investing more than US$11 billion, Equinor celebrates 20 years of operations in Brazil
Aline Massuca Aline Massuca

Equinor, a global energy company headquartered in Norway and present in around 30 countries, completes in 2021 two decades of operations in Brazil. This year also marks important announcements by the company in the country: the final investment decision for the Bacalhau field, in the Santos Basin, which will be the largest Brazilian pre-salt project operated by an international company, and the definition of the development concept the BM-C-33 field, in the Campos Basin, in addition to ongoing projects in solar and offshore wind energy. In 20 years of operations in Brazil, Equinor has already invested more than US$ 11 billion in Brazil and expects to invest another US$ 15 billion by 2030.


"We are very happy to celebrate this milestone for Equinor in Brazil. Our oil and gas projects have contributed for years to the country's development and, in addition, we are also investing in renewable energies, helping to diversify the Brazilian energy matrix", says Veronica Coelho (Photo), President of Equinor in Brazil. "Our first project in solar energy globally is here in Brazil, in Ceará, and we want to continue developing opportunities for increasingly sustainable energy sources. We have Memoranda of Understanding signed with partners to further develop the solar source and we also have a project in a study of offshore wind off the Brazilian coast", he completes.


Equinor's history in Brazil began with the challenge of producing in the Peregrino field, in the Campos Basin. Given the characteristics of the oil in the Peregrino reservoir, which is very heavy and viscous, many considered it an impossible field to be developed. But since 2011, Equinor has safely produced more than 210 million barrels. With Phase 2 of Peregrino, scheduled for 2022 and which will feature a third platform, around 300 million barrels of oil will be added to the field's production, in addition to creating more jobs and boosting the local economy.


Equinor also operates, together with Petrobras, in the Roncador field, in the Campos Basin. In this asset, Equinor's expertise in the use of IOR (Improved Oil Recovery) technology has contributed to increasing the longevity of the field. The ambition is to increase Roncador's recovery factor in order to produce around 1 billion more barrels in the field.


Since it started operating in the country, around R$ 3 billion in royalties have been paid through the Peregrino and Roncador projects, and today there are more than a thousand professionals, including employees and contractors. The company continues to expand its presence in the country, developing technologies and contributing to the growth of the local economy. The company continues to look for opportunities with competitive value that contribute to a robust, low-carbon portfolio.


Focus on reducing emissions 

Equinor has set a global ambition of becoming a zero net emission energy company by 2050 and announced a goal to increase the share of gross investment in renewable energy and low carbon solutions to more than 50% by 2030. Today, Equinor is the company that produces oil with the lowest emissions in the world, in the order of 9 kilos per barrel in operated production. By 2025, the company intends to reach levels below 8 kilos, in a context where the global industry average is 17 kilos of CO2 per barrel. In Brazil, initiatives already underway in Peregrino are contributing to the reduction of carbon emissions in the project. Some examples are the replacement of diesel as the main fuel with natural gas, imported from the existing offshore network, as well as digitization solutions to optimize the energy consumption of submersible pumps.


For the Bacalhau field, the application of the combined cycle methodology in the FPSO will increase the project's energy efficiency and reduce CO2 emissions. Equinor has also sought, together with suppliers, to optimize its fleet of boats and flights to the platforms and has been studying the use of battery powered boats with intelligent power to reduce diesel consumption.


"We have a long-term perspective in Brazil, with a growth strategy in all energy sectors. And we want to continue making history in a safe, responsible and sustainable way", declares Veronica. "Our portfolio in the country is robust, with assets in all phases, from exploration to production, in addition to important projects in renewable energy. We are confident in the good opportunities that we see ahead", celebrates the executive.


Female and Brazilian leadership 

Veronica Coelho, President of Equinor in Brazil, has among her main challenges to ensure good operational results in a safe and efficient manner and with low CO2 emissions. The Brazilian executive is the third consecutive female leader in charge of the company in the country. At Equinor, the commitment to balance and equal rights is present not only in the company's name, which also reflects the company's Norwegian origin, but above all in the actions and initiatives developed.

Font: T&B Petroleum/Press Office
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