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Equinor to invest more than $15 billion in Brazil until 2030

Brazil become a core area for the Norwegian oil and gas giant Equinor with daily oil production of over 90 000 barrels per day.

Equinor to invest more than $15 billion in Brazil until 2030 Equinor to invest more than $15 billion in Brazil until 2030


Brasilia, August 30 - Neftegaz.RU. Brazil has become a core area for the Norwegian oil and gas giant Equinor with daily oil production of over 90 000 barrels per day from current fields and with expected investments of more than $15 billion until 2030.

 

According to the Equinor, Brazil is a great fit with its strategy, using the strengths from the experience on the Norwegian Continental Shelf. Currently Equinor has activity across the value chain, from exploration, through discoveries and development, and into production, as well as within renewable energy.

 

«We have been building a presence in Brazil since 2001, and we have been able to establish a broad energy portfolio in the country. With around $10 billion already invested, and more than $15 billion expected to be invested until 2030, we show how we are working to create value for both Brazil and Equinor,» said Anders Opedal, executive V.-P. for Development and Production Brazil in Equinor.

 

Equinor’s assets in Brazil include the producing Peregrino field and the 2nd phase of that project that is due to come on stream in 2020, a 25% share in the giant Roncador field, the significant pre-salt discoveries of Carcará and Pão de Açúcar, as well as exploration acreage.

 

«We have a portfolio with the potential to produce between 300,000 and 500,000 barrels of oil equivalent per day in 2030, depending on phasing of projects and exploration success. Due to our operatorship of Peregrino, we have built a competent organization that will be important for developing our coming projects and putting them into production,» continues Opedal.

 

In addition to expecting significant growth in production, Equinor in Brazil also has an ambition to further explore for growth within renewable energy and new natural gas value chains.

Source : Neftegaz.RU