Equinor Brasil Energia signed a contract for drilling in the Bacalhau field with Seadrill Management, subject to the final investment decision. The duration of the contract is four years, with start-up scheduled for the first quarter of 2022.

The goal is to drill six wells until production begins in 2024. The contract also includes four options for extending one year each. The total value of the contract includes mobilization, updates and integrated services.

The total value of the contract, of RS $ 380 million, is conditioned to a final investment decision by Bacalhau, made by the partners. Bacalhau field is a project located in the Santos Basin. It was discovered in 2012 and acquired from Petrobras in 2016. It consists of two licenses, BM-S-8 and Norte de Carcará.

“In this contract, we guarantee a fixed rate for the initial determined period, which includes a performance element that allows the supplier to increase its profit when completing safe and efficient operations. We also agree with the general terms of the options and we believe that this contract gives the Bacalhau project good incentives for a long drilling campaign ”, says Mette Halvorsen Ottøy, chief procurement officer at The Bacalhau field has a depth of about 2,000 meters and is the Equinor's deepest high-pressure field.

The West Saturn is a seventh generation drill ship, adapted for water depths of up to 3,600 meters.

Partners in Bacalhau Field: Equinor 40% (operator), ExxonMobil 40%, Petrogal Brasil 20% and Pre-salt Petroleum (non-investor).

• Discovery was made by Petrobras in 2012

• Equinor has been an operator since 2016

• Bacalhau Field will be the first development in the pre-salt to be developed by an international operator

• Located at a distance of 185 km from the coast of the municipality of Ilhabela, in the state of São Paulo, at a depth of 2,050 meters

• Phase 1 development capacity of 220,000 barrels / day

• Production of the first oil planned for 2024 Equinor.